The GCC economies have been amongst the best performing in the world in recent years, and are expected to grow 4.5 per cent in 2014-15, said Christine Lagarde, managing director of the International Monetary Fund (IMF).
IMF chief Christine Lagarde urged Arab countries going through democratic change to phase out costly subsidy systems on Monday, but drew a cautious response from regional finance ministers wary of the social impact of such steps.
Kuwait should contain current expenditures such as the public sector wage bill and generalised subsidies, and find ways to enhance non-oil revenues, to overcome the risk from eroding buffers, said a top official.
The challenges ca
The International Monetary Fund is ready to work with Egyptian authorities to help stabilise the country's economy, IMF chief Christine Lagarde said, citing discussions that have been ongoing for the past year and a half.
The Group of 20 nations pledged on Saturday to put growth before austerity, seeking to revive a global economy that "remains too weak" and adjusting stimulus policies with care so that recovery is not derailed by volatile financial mar
Egypt's government must strongly endorse a $4.8 billion IMF loan agreement to its people as a step towards stabilising an economy pummelled by a turbulent transition from autocratic rule, the head of the world lender said o
International Monetary Fund (IMF) managing director Christine Lagarde on Saturday praised Gulf oil exporters for their help in stabilising the global economy by managing oil prices, despite complaints by some Western countries that energy
The International Monetary Fund (IMF) is set to cut its forecast for global growth next month when it updates its projections for the world economy, said its top official.
"We continue to project a gradual recovery, but globa
The head of the International Monetary Fund said on Wednesday the Washington-based institution wanted to support Egypt and said that an IMF team would discuss details on a loan package to help the economy.
Egypt will discuss the possibility of a bigger-than-expected $4.8 billion loan from the International Monetary Fund when a delegation from the Washington-based body visits Cairo this month, its finance minister said.