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.
Iran’s currency crisis will probably deepen the Islamic republic’s economic contraction this year by more than the International Monetary Fund had estimated, the fund’s Middle East chief said.
Yemen, the poorest country in the Middle East, plans to sell $500 million of local currency Islamic bonds for the first time to fund the budget deficit and spur the Shariah-compliant finance industry.
Growth in Middle Eastern and North African oil-exporting economies will accelerate next year as crude production rises, the International Monetary Fund said.
Egypt will include the latest economic developments and political feasibility in its economic plan to secure a $4.8 billion loan from the International Monetary Fund, a fund official said.
"There is an immediate impact from the drop in oil prices."
- Masood Ahmed on Oct 27, 2014