IMF says reforms boost Gulf resilience
The International Monetary Fund has affirmed that the reforms and measures implemented by the Gulf Cooperation Council countries have enhanced their ability to face recent developments in the region, especially as a result of the US-Iranian conflict. The IMF Managing Director, Kristalina Georgieva, praised the reforms that helped mitigate the impact of shocks and optimize revenues. She also indicated that the Fund has cut its growth forecast for the Middle East and North Africa region by 2%. Additionally, she emphasized that some countries, such as Iraq, Egypt, and Jordan, are making progress in reform programs and financial support, while others face challenges due to the lack of necessary capacities, stemming from structural conditions and geopolitical tensions that affect energy and food security, thereby exacerbating public finance vulnerabilities and increasing public debt.
Notice: This Is an AI-Generated Summary
Comments (0)