IMF: New Dark Clouds on the Horizon of the World Economy
白云追月素
发表于 2023-10-15 21:09:34
293
0
0
According to the Associated Press on October 12th, the International Monetary Fund (IMF) said on the 12th that as the external shocks caused by the Ukrainian war and global inflation gradually subside, various economies in the Middle East are gradually recovering. However, the escalating war between Israel and Hamas may harm this prospect.
IMF President Christina Georgieva said the organization is closely monitoring the economic impact of the war, especially on the oil market.
At a press conference held during the annual meeting of the IMF and the World Bank in Marrakech, Morocco, she said, "It is clear that this is a new dark cloud on the horizon where the world economy is not the brightest, a new dark cloud that is not needed on this horizon
The IMF predicts that as countries continue to raise interest rates and respond to rising oil prices and some regional challenges, the economic growth rate of the Middle East and North Africa will slow down to 2% this year from 5.6% last year. It is expected that the growth rate in 2024 will increase to 3.4%.
This is lower than the IMF's forecast of 3% global economic growth this year, but higher than the expected 2.9% next year.
The IMF says wealthy countries in the Gulf and other regions will benefit from rising oil prices, while Egypt and Lebanon are still struggling to cope with soaring inflation.
Climate change poses challenges to the entire region, as demonstrated by the devastating floods that occurred in war-torn Libya last month.
According to the report, it is expected that the average inflation rate in the Middle East and North Africa will peak at 17.5% this year and decline to 15% in 2024. If Egypt and Sudan are excluded, both numbers will decrease by about one-third. In September, Egypt's inflation rate soared to nearly 40%, while various armed factions in Sudan have been fighting since April.
Egypt is the most populous Arab country and the world's largest importer of wheat. Since the Russia-Ukraine conflict disrupted Ukraine's important wheat exports, wheat prices have soared. Food prices increased by 70% year-on-year in August.
Egypt received $3 billion in rescue funds from the IMF last year, but was required to carry out a series of economic reforms, including implementing flexible exchange rates and raising borrowing costs.
The IMF also called on Egypt to create a fair competitive environment between the public and private sectors. Previously, Egypt provided decades of subsidies for basic commodities and allowed the military to play an excessive role in the economy.
The Director of the IMF's Middle East and Central Asia Department, Jihad Azur, said that Egypt has made greater progress in certain areas than other countries. He said, "The Egyptian economy is huge, has great potential, and is full of hope. It is very important to provide space for the private sector to play a leading role. That is why redesigning the role of the state to become more of a driving force rather than a competitor is extremely important
In Lebanon, which has suffered a severe economic collapse since 2019, the IMF is still waiting for the country's leaders to reach a preliminary agreement last year to implement financial and economic reforms that can pave the way for relief.
Azur pointed out some successes achieved by other countries.
He said that the reforms implemented by Morocco have achieved results in promoting economic growth and stability.
He also mentioned Jordan, a close ally of the West and facing severe water shortages. He said that although the COVID-19 epidemic, inflation and regional instability have brought continuous impacts, Jordan has maintained economic stability.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Interview with the head of the IMF Research Department: Global investment declines, trade growth slows down, the world economic recovery is full of challenges
- Musk: The world economy is in turmoil, Tesla will continue to lower prices!
- Summary: Economists from multiple countries believe that the US high interest rate policy is dragging down the world economy
- Economists from various countries believe that the US high interest rate policy is dragging down the world economy
- Wang Lei, Global Executive Vice President of AstraZeneca (6th CIIE): The Chinese market provides the greatest certainty for the world economy
- Prior to the listing of Horizon Robotics, cornerstone investors such as Alibaba and Baidu subscribed for $220 million worth of shares
-
11月21日、2024世界インターネット大会烏鎮サミットで、創業者、CEOの周源氏が大会デジタル教育フォーラムとインターネット企業家フォーラムでそれぞれ講演、発言したことを知っている。周源氏によると、デジタル教 ...
- 不正经的工程师
- 昨天 16:36
- 支持
- 反对
- 回复
- 收藏
-
スターバックスが中国事業の株式売却の可能性を検討していることが明らかになった。 11月21日、外国メディアによると、スターバックスは中国事業の株式売却を検討している。関係者によると、スターバックスは中国事 ...
- 献世八宝掌
- 前天 16:29
- 支持
- 反对
- 回复
- 收藏
-
【意法半導体CEO:中国市場は非常に重要で華虹と協力を展開】北京時間11月21日、意法半導体(STM.N)は投資家活動の現場で、同社が中国ウェハー代工場の華虹公司(688347.SH)と協力していると発表した。伊仏半導体 ...
- 黄俊琼
- 前天 14:29
- 支持
- 反对
- 回复
- 收藏
-
【ナスダック中国金龍指数は1%下落した。人気の中概株の多くは下落した】現地時間11月21日、ナスダック中国金龍指数は1%下落し、人気の中概株の多くは下落し、必死に10%超下落し、愛奇芸は7%超下落し、百度は6%近く ...
- 比尔992
- 昨天 11:57
- 支持
- 反对
- 回复
- 收藏