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[size=36]International Monetary Fund: Gulf countries have supported developing countries with $54 billion[/size]
Economie| 07:33 - 02/12/2023
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Follow-up - Mawazine News
The International Monetary Fund revealed that the Arab Gulf states have provided $54 billion in aid to many developing countries over the past five years.
The Fund's Director-General, Kristalina Georgieva, said in her speech during the Seventh Public Finance Forum for Arab Countries held in Dubai today, Sunday, that the Ukrainian crisis and climate problems exacerbate the risks of food deficits in the poorest countries.
Georgieva stated that the Arab Gulf states provided $54 billion to developing countries, low national income, and countries suffering from conflicts.
And she warned that the chronic rise in unemployment rates, among young people, in developing countries, threatens social stability in the region and the world at large, expecting that the inflation rate will exceed 10%, for the fourth year in a row.
The International Monetary Fund predicted, at the end of December 2022, that oil producers in the Gulf and the Middle East will reap a trillion dollars between 2022-2026, and that the six countries of the Gulf Cooperation Council will have the largest share of the expected benefits.
Georgieva indicated that reducing oil production in accordance with the “OPEC +” agreement may lead to a decline in oil revenues, while challenges will continue in oil-importing countries, as several economies in the region are facing a rise in debt ratios compared to the gross domestic product, which is close to 90% in Some countries. Ended 29 / AD 99
The International Monetary Fund revealed that the Arab Gulf states have provided $54 billion in aid to many developing countries over the past five years.
The Fund's Director-General, Kristalina Georgieva, said in her speech during the Seventh Public Finance Forum for Arab Countries held in Dubai today, Sunday, that the Ukrainian crisis and climate problems exacerbate the risks of food deficits in the poorest countries.
Georgieva stated that the Arab Gulf states provided $54 billion to developing countries, low national income, and countries suffering from conflicts.
And she warned that the chronic rise in unemployment rates, among young people, in developing countries, threatens social stability in the region and the world at large, expecting that the inflation rate will exceed 10%, for the fourth year in a row.
The International Monetary Fund predicted, at the end of December 2022, that oil producers in the Gulf and the Middle East will reap a trillion dollars between 2022-2026, and that the six countries of the Gulf Cooperation Council will have the largest share of the expected benefits.
Georgieva indicated that reducing oil production in accordance with the “OPEC +” agreement may lead to a decline in oil revenues, while challenges will continue in oil-importing countries, as several economies in the region are facing a rise in debt ratios compared to the gross domestic product, which is close to 90% in Some countries. Ended 29 / AD 99
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