Saving GCC banks is probably the most important challenge policy makers are confronting in today’s crisis-ridden world, according to a recent report released by the Kuwait Financial Centre (Markaz).
The report argues that currently the global response to the current financial crisis has been predominantly rescue-package initiated – launched and managed directly by the government in order to rescue local banks, financial institutions and other sectors.
The report strongly recommends that given the current situation in the GCC region, an overt economic stimulus package is no longer a policy option but a necessity.
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