The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas
DUBAI, July 6 (Reuters) – Oman has asked the International Monetary Fund to provide technical assistance to help the country develop a medium-term debt strategy and strengthen its fiscal framework, the IMF said.
The Gulf oil producer, one of the weakest financially in the region, has been hit hard by the twin shock of lower oil prices and the coronavirus crisis last year.
Real gross domestic product shrank 2.8% and the state budget deficit ballooned to 19.3% of GDP due to lower oil revenue and the economic downturn, the IMF said in a statement on Tuesday.
Oman launched austerity measures last year w…
Read the full article at: https://www.reuters.com/world/middle-east/oman-asks-imf-technical-assistance-debt-strategy-fiscal-framework-imf-2021-07-06/
