IMF sees silver lining in EU migrant crisis

Subject: IMF sees silver lining in EU migrant crisis Wed Oct 07, 2015 2:21 am

The massive arrival of migrants in the European Union will burden member states' budgets in the short term but ultimately fuel economic growth, the IMF's chief economist said Tuesday.

The arrival of hundreds of thousands of migrants in the EU, many fleeing the civil war in Syria, has unleashed a crisis for the bloc, but in the long term it will help its economies by expanding the labor force, said Maurice Obstfeld, the International Monetary Fund's new economic research director.

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"Accommodating the inflows of refugees will definitely strain fiscal budgets in some countries," he told a press conference in the Peruvian capital Lima, where the IMF and World Bank are holding their annual meetings this week.

According to the United Nations, some 700,000 migrants and refugees will make the dangerous trip across the Mediterranean to Europe this year, with a similar number expected again next year.

https://au.finance.yahoo.com/news/imf-sees-silver-lining-eu-083946751.html

IMF sees silver lining in EU migrant crisis

IMF sees silver lining in EU migrant crisis

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