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The International Monetary Fund has commended the reforms carried out successfully by Morocco, saying the North African Kingdom has implemented challenging reforms such as modernizing the budget framework, enacting energy subsidy reforms, strengthening the domestic financial sector, and most recently Read more
The United Arab Emirates (UAE) continues to be affected by the low oil prices, but the foreign reserves it cumulated over the years “have provided ample policy space, limited negative inward spillovers and contained the weakening of investor appetite,” said Read more
Iraqi Prime minister Haider al-Abadi relieved lieutenant general Abdulamir al-Shimmari of his position as Baghdad ‘s Operations Commander in the aftermath of the Sunday attack that killed almost 300 people. The heads of the intelligence and security departments in the Read more
The International Monetary Fund has applauded Saudi Arabia’s economic reform program under Vision 2030 as being “an appropriately bold and far-reaching transformation of the Saudi Arabian economy.” IMF said ensuring the success of the long-delayed reforms announced last month will Read more
35The International Monetary Fund (IMF) has welcomed the economic and financial reforms undertaken by Bahrain to battle fiscal and external imbalances. The Executive Directors of the IMF signaled that the low global oil prices have “adversely affected” the country’s economy Read more
The Central Bank of Egypt’s decision to devaluate the Egyptian pound by 14.4% against the US dollar was welcomed by credit rating agency, Fitch, as “credit positive” but added that “insecurity” and “political uncertainty” call for more measures as foreign Read more
Sources under the condition of anonymity have revealed that oil rich kingdom and the world’s biggest oil producer is seeking a bank loan of between $6 and $8 billion as the low oil prices begin to take its toll on Read more
Tunisia will be receiving a delegation from the International Monetary Fund (IMF) to discuss a loan agreement and Prime Minister Habbib Essid met with Central Bank Governor Chely Avari over the weekend ahead of their arrival. A government official hinted Read more
Amman has warned that its policies towards Syrian refugees could change if the upcoming February 4 donor conference in London does not help it to overcome the challenges it is facing. Authorities claim to have spent around $6.6billion over the Read more
Bahrain would soon introduce austerity measures as recommended by a delegation from the International Monetary Fund (IMF) which visited the Gulf country January 12 to 25 for annual consultations. Bahrain is struggling with the low oil prices and IMF forecasted Read more