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
284
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
-
【英偉達の需要が高すぎる?SKハイニックス:黄仁勲がHBM 4チップの6カ月前納入を要求!】SKハイニックスの崔泰源(チェ・テウォン)会長は月曜日、インビダーの黄仁勲(ファン・インフン)CEOが同社の次世代高帯域 ...
- 琳271
- 前天 17:54
- 支持
- 反对
- 回复
- 收藏
-
ファイザーが前立腺がんを治療する革新薬テゼナ& ;reg;(TALZENNA®,一般名:トルエンスルホン酸タラゾールパーリカプセル)は2024年10月29日に国家薬品監督管理局(NMPA)の承認を得て、HRR遺伝子突然変異 ...
- 什么大师特
- 昨天 17:41
- 支持
- 反对
- 回复
- 收藏
-
南方財経は11月5日、中央テレビのニュースによると、現地時間11月5日、米ボーイング社のストライキ労働者が59%の投票結果で新たな賃金協定を受け入れ、7週間にわたるストライキを終えた。ストライキ労働者は11月12 ...
- Dubssgshbsbdhd
- 昨天 16:27
- 支持
- 反对
- 回复
- 收藏
-
【マスクはテスラが携帯電話を作ることに応えた:作れるが作らないアップルとグーグルが悪さをしない限り】現地時間11月5日、有名ポッドキャストのジョローガン氏のインタビューに応じ、「携帯電話を作るのは私たち ...
- 波大老师
- 昨天 14:41
- 支持
- 反对
- 回复
- 收藏