Finance Minister Roland Lescure said on Tuesday
Lescure made the remarks as he arrived for the second and final day of a G7 finance ministers’ meeting in Paris, where officials from the world’s leading industrialized economies have been discussing global growth risks, debt pressures and development financing.

The French minister said participants broadly agreed that multilateral financial institutions needed to play a stronger role in assisting countries struggling with economic fragility and external shocks.

A joint communiqué outlining the outcomes of the meeting is expected later on Tuesday.

The discussions come as developing economies continue facing pressure from high borrowing costs, slowing global trade, climate-related disruptions and the lingering effects of recent geopolitical conflicts on food and energy markets.

International financial institutions, including the IMF and World Bank, have faced increasing calls from advanced economies and developing nations to accelerate lending reforms, expand crisis financing and improve debt restructuring mechanisms for low-income countries.

G7 officials have also been under pressure to demonstrate coordinated support for vulnerable economies amid concerns that widening debt burdens and fiscal instability could undermine global economic recovery.

More than 2.4 million Filipino workers are employed across the Middle East, primarily in Saudi Arabia and the United Arab Emirates, in sectors ranging from healthcare and hospitality to retail and domestic work. Their remittances account for roughly 10 percent of the Philippine economy, making the regional downturn a major concern for households dependent on overseas income.

The conflict, now in its third month, has triggered uncertainty across Gulf economies reliant on expatriate labor. Filipinos interviewed by Arab News described abrupt job losses, shrinking work opportunities and financial stress amid declining business activity and security fears.

A Filipino domestic worker in Dubai, identified only as Cinderella, said she lost stable employment after the Syrian family she worked for left the UAE because of the conflict.

“The money I raise from my part-time work is not enough,” she said, adding that she often reduced herself to one meal a day to save money while struggling to cover rent and basic expenses.

Another Filipino worker, Kim, said she was among roughly 200 employees laid off from a luxury hotel in Doha as the hospitality sector contracted amid weaker business activity.

“The hotel was cutting employees because of the situation,” she said, adding that the company anticipated reduced operations due to the conflict.
Although the hotel later offered to reverse her termination, Kim said she chose to return permanently to the Philippines after spending more than a decade working in the Gulf.

Others said the instability accelerated plans already underway to relocate home. Tere, a Filipino resident in Bahrain, said suspended projects and weakening business conditions influenced her family’s decision to settle permanently in Manila.

Despite the downturn, remittances from the Middle East still rose slightly in the first quarter of 2026 to $1.55 billion from $1.49 billion a year earlier, according to figures cited in the report.

The Philippine government said more than 11,000 Filipinos have sought assistance through repatriation programs since the conflict intensified, including around 4,500 from the UAE, more than 2,200 from Kuwait, and nearly 1,000 each from Saudi Arabia and Qatar.
Hans Leo Cacdac, secretary of the Department of Migrant Workers, said many returning workers still hoped to go back once regional conditions stabilized, with roughly 70 percent expressing interest in returning to Gulf jobs after the conflict.
The Philippine government has introduced emergency support measures including financial assistance, psychosocial support, livelihood programs and healthcare services for displaced workers. Filipinos who lost jobs but remain in the region are eligible for one-time assistance payments of $200 under crisis-response programs operating in 10 Middle Eastern countries.
For some workers, however, returning home remains financially difficult despite the instability. Cinderella said she planned to remain in Dubai for now after recently securing cleaning work, though she hoped eventually to move to Cairo, where she previously worked for a decade.

The agreed, subject to approval by the IMF’s executive board, would release about $1 billion under the Extended Fund Facility and an additional $210 million under the Resilience and Sustainability Facility, bringing total disbursements under the current program to $4.5 billion.

Under the broader $7 billion program, the Washington-based lender has urged Islamabad to maintain a tight and data-dependent monetary policy stance to anchor inflation expectations and reinforce foreign exchange buffers.

The IMF’s guidance comes as global energy prices rise and regional geopolitical tensions add uncertainty to Pakistan’s inflation outlook, particularly given its reliance on imports.

Pakistan’s central bank has held its benchmark policy rate steady at 10.5% this month, pausing an easing cycle as authorities weigh the risks of renewed price pressures against the need to support economic stability.

The staff-level agreement marks a critical procedural step in unlocking further funding, which analysts say remains essential for sustaining macroeconomic stability and meeting external financing needs.

India’s third most populous state and also one of its poorest, Bihar is ruled by Modi’s National Democratic Alliance and is scheduled to hold an election to its state assembly in the coming weeks.

Women voters have turned out in greater numbers in the past decade, reversing a trend of men easily outnumbering women at the polls, and political parties have competed to attract them.

Modi’s Bharatiya Janata Party lost its outright majority in the federal parliament in last year’s national election, forcing him to rely on support from regional allies to form a government after facing a resurgent opposition, and he is currently navigating one of the most challenging stretches of his 11 years in office.

Addressing women gathered in multiple locations in the state, Modi said via video link: “I see millions of women on the screen, and their blessings are a great source of strength for all of us.

“The (women’s employment plan) is being launched today. So far, 7.5 million women have joined this scheme, and an amount of 10,000 rupees has been transferred to the bank accounts of all these women,” he said.

The plan is envisaged as giving support to women to enable their employment in small-scale ventures such as agriculture, handicrafts and other sectors, the Prime Minister’s Office said. Beneficiaries can also avail of additional financial support of up to 200,000 rupees in subsequent phases of the plan.

Modi’s ruling NDA will face the opposition Congress and its allies in Bihar, which is considered a bellwether state, along with neighbouring Uttar Pradesh and the western state of Maharashtra. ($1 = 88.7080 Indian rupees)