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Exclusive [Video]: Russian-Ukrainian crisis, impact on Arab market and alternatives according to the Lebanese economist, Bassam Farchoukh

Speaking to Tunisie Numerique , the Director of the Arab Union for the Development of Exports and Leather Industries and Lebanese economist, Bassam Farchoukh said that he is visiting Tunisia as part of meetings of the High Committee for Common Arab Work, held from May 28 to 31, chaired by the Secretary-General of the League of Arab Countries Ahmed Abou Ghit.

Mr. Bassam Farchoukh stated that the meetings concentrated on the effect of the Russian-Ukrainian crisis on the Arab market, the examination of alternatives and the decline of food security in the region. Our speaker revealed that the Arab market has been deeply affected by the Russian-Ukrainian crisis and accordingly an Arab alternative is needed.

“Sudan stays a suitable alternative to Ukraine, its cultivated land can meet the necessities of the region,” he said. Mr Farchoukh likewise voiced his satisfaction with the resolutions of these meetings, in particular the variety of alternatives. “It is likely for every Arab country to attain self-sufficiency in grain products,” he continued.

Regarding the socio-economic crisis in Tunisia, Mr Farchoukh assessed that Tunisia is far from the “bankruptcy” scenario. Although he avoids using this term because nations experience complicated crises but not to the point of announcing bankruptcy. Questioned about the economic fate of Lebanon, the Lebanese economist revealed that his country could not receive a loan from the IMF due to widespread corruption.

The IMF demanded social peace and national unity to give a loan to Lebanon,” he emphasised. “To get out of the crisis, you have to detach politics from the economy, so you can avoid major crises. I hope to see Lebanon in all its wonder, back on its feet again,” he said. Our interlocutor addressed all Tunisians, in particular the followers and readers of Tunisie Numerique, and wished them, as well as the Lebanese people, happiness and health.