IMF Predicts Worst Mideast Downturn In Half Century

IMF predicts worst Mideast downturn in half century

Dubai, (UrduPoint / Pakistan Point News - 13th Jul, 2020 ) :The IMF Monday again sharply lowered its middle East and North Africa economic forecast, to its lowest level in 50 years, over the "twin shock" of the coronavirus pandemic and low oil prices.

The region's economy will contract by 5.7 percent this year, and shrink by as much as 13 percent in countries torn by conflict, the Washington-based International Monetary Fund warned.