An IMF staff mission traveled to the Arab country and advised the government not to increase spending on the back of the oil price hike, as well as meet fiscal targets.
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The IMF released a preliminary report of a visit to the Arab country and praised the efforts made to go forward with the reform program. The Fund should disburse other USD 2 billion to Egypt as part of their agreement.
The International Monetary Fund released this Wednesday the report Regional Economic Outlook for the Middle East and North Africa, underscoring five main points.
A conference and panel take place this Wednesday (2) in Dubai with the IMF’s director of the Middle East and Central Asia Department, Jihad Azour.
Annual meetings are held in the USA two years back-to-back and then in a different country every third year. Indonesia will be the host in October 2018.
The aim is to discuss actions to promote higher economic growth and job creation in the Arab country. Global best practices will be analyzed within the local context.
An IMF team visited Muscat from April 3 to 16 and made a positive assessment on the economic scenario, forecasting an increase in revenues from other sectors other than oil.
IMF forecasts a world growth of 3.9% in 2018 and 2019. Recovery in commodity prices will help developing countries.
A Fund’s staff team visited the African country last week and identified progress regarding economic growth. High inflation and low international reserves present risks to macroeconomic stability.
