Economies across the Middle East and Central Asia will likely slow this year as high inflation and rising interest rates bite into their post-pandemic gains. The International Monetary Fund blamed that in part on rising energy and food costs.
Jihad Azour, the director of the Middle East and Central Asia Department at the International Monetary Fund, speaks to The Associated Press in Dubai, United Arab Emirates, Tuesday, May 2, 2023. Economies across the Middle East and Central Asia likely will slow this year as persistently high inflation and rising interest rates bite into their post-pandemic gains, the International Monetary Fund said Wednesday, May 3, 2023.
DUBAI, United Arab Emirates — Economies across the Middle East and Central Asia will likely slow this year as persistently high inflation and rising interest rates bite into their post-pandemic gains, the International Monetary Fund said Wednesday. The regional slowdown also comes as an explosion of fighting in Sudan between two top rival generals — who only a year ago as allies orchestrated a military coup that upended the African country’s transition to democracy — threatens a nation where IMF and World Bank debt relief remains on hold.
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