Middle East Economic Survey

VOL. LII

No 24

15-Jun-2009

REGIONAL/GCC

Exposure To Global Markets Is Main Driver Of GCC Corporates Crisis, Says Moodys

The impact of the global financial crisis on corporates in the Gulf Cooperation Council (GCC) countries is driven by their greater exposure to global economic contagion rather than by fluctuations in oil prices, according to a Special Comment published by Moodys Investors Service on 10 June. The report says that ample sovereign wealth funds (SWFs) are...