VOL. XLIII

No. 28

10-July-2000

GCC

IMF Says GCC Countries Largely Used Their Wealth Wisely

In its latest Survey report of 19 June, the International Monetary Fund (IMF) credits GCC countries which account for 44% of world proven reserves of crude oil and 15% of world natural gas reserves with having "largely used their wealth wisely," despite a decline in their real per capita GDP over a period when the GDP of all developing countries rose by 60%. Abdelali Jbili of the Middle Eastern...