G8 pledges $38bn to Arab states as IMF recognises Libya

Finance ministers from the G8 group of industrialised countries have pledged nearly $40bn (£25bn) to several Arab countries to help with reconstruction and moves towards democracy. The money will go to Egypt and Tunisia, which overthrew their autocratic leaders, as well as Morocco and Jordan. In addition, the International Monetary Fund (IMF) has recognised Libya’s post-Gaddafi leadership. The G8 – the world’s richest countries plus Russia – is meeting in Marseille.

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G8 pledges $38bn to Arab states as IMF recognises Libya