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  • 21-10-20

    IMF monitors the Middle East

    (MENAFN) The International Monetary Fund is discussing the situation in the Middle East, and the strong impact Covid-19 has had on their already frail economy, where they are predicting that the growth rate will contract by 4.1 percent this year.

    The fund has stated in its economic outlook, on Monday, October 19th, that the epidemic is going to weaken the economy further for the following countries: Iraq, Libya, Syria, Yemen, Lebanon, Somalia and Afghanistan.

    The IMF's Middle East and Central Asia Department director, Jihad Azour, made the following statement, in an interview with The National: "It is an important issue ... fragile and conflict-affected states face more daunting challenges."

    He also added that weak states with very feeble healthcare system had done better than expected in containing the outbreak of the disease, but in the long run they will probably face more issues that they have managed to avoid for the time being.

    The fund noted that the goal for now is to make sure the countries have enough resources to support the healthcare sector, for it is the most important section now.
    "The pandemic is likely to increase the risk of social unrest for this group of countries," the Washington lender commented on the matter.

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