Middle East bankers were on Wednesday mulling the implications of the International Monetary Fund’s latest warning about the state of the world economy.
But they can take comfort from the fact that the Fund was far less gloomy about the region than other corners of the world economy – and generally more positive about growth than other forecasters.
The fund highlighted the impact of political unrest on the region – and the dangers inherent in the oil-rich Gulf states’ policies of boosting public spending to get out of political trouble.
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