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Syria’s Economic Hardships Intensify With Fuel Shortage
...ude production from the government-controlled areas slumped to 9,325 b/d in 2014, or a mere 2.4% of 385,000 b/d output before the start of uprising in March 2011. Syria’s imports of crude oil in the first nine months of 2014 were estimated at 124,600 b/d, according to The Syria Report. The tiny oi...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Lebanon Launches ‘Largest Ever’ $2.2Bn Eurobond
...oblems, Lebanon finds itself in the eye of the Middle East storm, as it struggles to cope with the influx of some 1.6mn Syrian refugees (both official and unofficial), who have fled their war-torn country since the start of the uprising in early 2011. Yet despite these external shocks, which slowed GD...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
UAE: Bonds Not Needed
...ending plan, first introduced in 2011 with a total outlay of Dh122bn ($33.2bn), was aimed at achieving sustained growth on a longer time horizon (MEES, 1 November 2013). Latest IMF projections expect UAE real GDP growth to remain firm at 4.5% in 2014, unchanged from 2013 (MEES, 7 February)....
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Algeria’s Trade Surplus Slumps
...sustainable path. Whilst Algeria’s current account remains in surplus the IMF estimates the surplus collapsed to a mere 1.1% of GDP for 2013, down from 6% for 2012 and 9.9% for 2011. Reserves At $194bn The country’s reserves have reached $194bn at the end of December 2013, according to the Governor of th...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Egypt Banks: Moody’s Wary
...yptian banks is unchanged since the beginning of the political turmoil in the country in January 2011. Moody’s said that although Egypt is heading towards elections, the government remains locked in a confrontation with the Muslim Brotherhood, which is backed by ousted president Muhammad Mursi. Mo...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
GCC Aid Flows To Bahrain And Morocco
...hrain $2.5bn to finance development projects in the kingdom as part of a 10-year funding program worth $10bn from four GCC countries – Saudi Arabia, Kuwait, Qatar and the UAE – approved in March 2011 (MEES, 9 May 2011). The four GCC countries then pledged to extend $10bn apiece to Bahrain and Oman to ea...
Volume: 56Issue: 09Published at Fri, 01 Mar 2013 -
Egypt To Resume Talks With IMF In March
...al to be finalized by the end of April. The government has said that it is also aiming to recover its foreign exchange reserves, which have fallen to a low of $13.6bn in January 2013 from around $36bn before the January 2011 revolution saw the overthrow of the Husni Mubarak regime. The go...
Volume: 56Issue: 09Published at Fri, 01 Mar 2013