The new regional office established in the Kingdom will hold significance, as the IMF expects Saudi Arabia to become one of the world’s fastest-growing economies
IMF
IMF
Pakistani Rupee jumps to 219 after IMF bailout funding approval
A US dollar is priced at 219 PKR (Pakistani Rupee), whereas a Dirham is priced at 59.85 PKR, as of Wednesday
IMF
Pakistan receives over $1.1 billion in IMF bailout funds amid flood crisis
The funds will be a “lifeline” to the South Asian country which is currently experiencing floods that have inflicted damage of at least $10 billion
economic outlook
High inflation among the reasons for slower world economic growth: IMF
The world economy is likely to grow slower at 3.2 percent this year, and the IMF urges policymakers to prioritise addressing inflation
IMF
IMF predicts Saudi economy as fastest growing economy in 2022 with GDP growth of 7.6%
The announcement comes as the IMF lowers its global growth predictions as the world’s largest economies slow down
global economic growth
IMF slashes global growth outlook, warns of ‘gloomy and more uncertain’ economy
The Washington-based lender urged policymakers to prioritise addressing inflation, even as tighter monetary policy could have real economic costs
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consumer price index
Inflation, stagflation, slow growth: It’s time for a mid-year update
Record inflation triggers radical responses from central banks, pressuring activity and crushing all asset classes. It’s a regime shift and it’s not smooth, but we remain reasonably constructive
economic outlook
IMF chief warns of ‘increased risk of recession’ in 2023, as the lender looks to cut global growth forecast again
She highlighted three actions that could be done to navigate a “sea of troubles,” including bringing down inflation, fiscal policy reforms, and an impetus for global cooperation led by G20
CBUAE
UAE economy’s growth for this year upgraded to 5.4 percent by Central Bank
It should also grow another 4.2 percent in 2023 as growth momentum continues, predicts the banking regulator
commodity prices
MENA oil exporters face brighter prospects despite challenging global outlook
Expected MENA GDP growth is at 5 percent but masks ‘significant differences across countries with oil exporters upgraded,’ IMF’s Jihad Azour said
GDP growth
Saudi Arabia should consider doubling VAT to 10%, says IMF
International Monetary Fund said Saudi reforms have started to yield results, more work needed
Bahrain economy
IMF slashes MidEast growth projections over Iran sanctions
Global lender projects 1% economic growth for the Middle East, North Africa, Afghanistan and Pakistan this year
IMF
Revealed: what the IMF thinks of Saudi economic progress
International Monetary Fund says Saudi growth is expected to pick up over the medium-term as ongoing reforms take hold
IMF
IMF urges Oman to introduce VAT as soon as possible
International Monetary Fund says sultanate’s economic recovery from the 2014 oil price shock remains subdued
Christine Lagarde
Who is Mohamed El-Erian, the Egyptian-American tipped to be the new IMF boss?
Mohamed El-Erian is one of the men in the running to replace Christine Lagarde, who has been nominated as the next president of the European Central Bank
Central Bank
UAE Central Bank reforms reporting of non-performing loans
Under previous reporting methodology, non-performing loans were overstated
Christine Lagarde
Urgency needed to boost Palestinian economy: IMF chief
The International Monetary Fund has been warning of severe deterioration in the Palestinian economy, with tax revenue blocked in a dispute with Israel