Arab Today, arab today oil importing states to remain under pressure
Last Updated : GMT 15:30:37
Arab Today, arab today
Arab Today, arab today

Oil importing states to remain under pressure

Arab Today, arab today

Arab Today, arab today Oil importing states to remain under pressure

Washington - Arabstoday

Oil importing countries in the region will continue to see external and domestic economic pressures in 2012, a top International Monetary Fund (IMF) official said. Masood Ahmed, director of the IMF’s Middle East and Central Asia Department, explained that external pressures include high commodity prices and the slow growth of these countries’ traditional markets, particularly Europe, in addition to increasing financing costs due to financial markets risk aversion policies. Domestically, oil importing countries are seeing continued social demands for spending, the IMF official said. “With pressures from outside and increasing demands for spending the fiscal situation for a number of these countries in the region will be under strains.” He highlighted the need to ensure that there is adequate financing for these countries, particularly those going into political transition, for the next 15 months, adding estimated external financing needs are around $50 billion. Due to current debt risks in the world, capital markets will likely prefer to provide only a small part of these funds and what they offer will be at a higher cost, Ahmed indicated. “The IMF is ready to do its part as it could allocate about $35 billion to the region’s oil importers if they were to request help,” he remarked at a meeting with journalists from the region on the sidelines of the annual meetings of the IMF and the World Bank, which started on Friday in Washington. Alongside financing, Ahmed said market access for the exports of oil importing countries will be a key point to improve their economies in the medium term. However, the IMF official stated that as the world is willing to help these countries overcome financial difficulties, the countries themselves have to take some difficult fiscal choices in the way they design their additional spending measures to maximise short-term impact while limiting long-term social liability. According to the recently released IMF’s World Economic Outlook report, the Middle East and North Africa (MENA) economic growth rate is expected to be around 4 per cent this year and 3.6 per cent next year. The report projected the economies of oil exporting countries in MENA to grow by 4.9 per cent in 2011, but to see slower growth pace next year at 3.9 per cent. The strong economic performance of oil exporting countries is currently one of the strengths of the MENA region, as these countries continue to benefit from high oil prices and their increasing production of oil to compensate the shortfall in Libya, according to Ahmed, who said the additional financial resources of oil producers, which have been spent on the non-oil parts of their economies, will have a spillover benefit to neighbouring countries in terms of flow of investments and remittances as well as direct financial assistance.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil importing states to remain under pressure Arab Today, arab today oil importing states to remain under pressure

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:03 2017 Thursday ,23 March

Spider Venom May Offer Hope to Stroke Victims

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday