Naseema Ahmed, a broker at Indus Real Estate LLC in Dubai, has been digging through her e-mails for leads after failing to sell a single home in the past month. She had been closing deals at a clip of about six a week since the market began recovering in 2012.
The International Monetary Fund said it isn’t worried about Dubai’s ability to meet its financial obligations after the emirate that almost defaulted in 2009 successfully managed to reschedule payments.
Afghan authorities need to prevent a repeat of the conditions that led to Kabul Bank’s collapse, before the International Monetary Fund agrees to an economic program, the institution’s regional chief said.
The International Monetary Fund will raise its economic growth forecasts for Dubai and the United Arab Emirates as progress in debt restructuring and government spending boosts the economy, IMF Middle East Director Masood Ahmed said.
One million nationals of oil-rich Gulf Arabs states may be jobless or seeking careers in a bloated public sector by 2018 unless measures are taken to create more private sector jobs, the International Monetary Fund said.