For full coverage of Middle East business developments, see MEED The IMF has revised down its oil price forecast for 2016 in its annual Article IV report on the economy of Kuwait released today. It shows the average price of…
Tag: IMF
IMF calls for Saudi finance, energy and labour market reform
Saudi Arabia should develop a comprehensive macroprudential framework, reduce domestic energy subsidies and promote the employment of nationals, the IMF said in a report published on 15 October. The report follows the publication last month of the IMF’s annual Article…
IMF approves $1.24bn loan for Iraq
The executive board of the International Monetary Fund (IMF) approved SDR 891.3 million ($1.24 billion) to help Iraq address its 2015 balance of payment and budget needs in 2015 related to the campaign against ISIS and lower oil prices, the…
IMF forecasts healthy growth for Saudi Arabia in 2015
An International Monetary Fund (IMF) team led by Tim Callen held discussions from May 17–28 on the 2015 Article IV Consultation with Saudi Arabia. At the conclusion of the mission, Callen made the following statement: “The decline in oil prices is…
IMF says UAE growth to slow in 2015
An International Monetary Fund (IMF) mission, led by Mr. Zeine Zeidane, visited the United Arab Emirates (UAE) from May 24 to June 4, 2015 for the annual Article IV discussions. The consultation will conclude with the preparation of a report…
Video: introduction to the GCC
This is a 20-minute video introduction to the economics and politics of the GCC.
IMF says Qatar Petroleum revenue review begun
Qatar Petroleum (QP) is review the impact on its income of lower oil prices that could be permanently lower, the IMF’s Article IV report released on 2 April says. “The authorities are currently assessing the implications of the oil price drop for…
IMF calls for Qatar government to raise revenue as budget heads for deficit in 2016
Qatar’s government should raise revenue in response to oil prices that could be permanently lower and increase real estate transaction fees to deter land speculation, the IMF says in its annual Article IV report released on 2 April. “The large…
IMF Article IV statement calls for Iraqi spending cuts and reforms
An International Monetary Fund (IMF) mission visited Amman on 6-15 March for 2015 Article IV meetings with Iraqi officials. A statement released on 18 March said: Oil exports are expected to rise to 3.1 million b/d in 2015 from 2.5…
IMF report calls for limits on GCC public sector jobs and wages
An IMF staff discussion note published on 23 December praises the economic progress of the GCC but calls for action to reduce the number and attractiveness of government jobs. “Firm limits need to be placed on public sector jobs and…