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IMF: Dollar peg has served Gulf well
- Middle East: Sunday, November 22 - 2009 at 10:53
John Lipsky, first deputy managing director of the International Monetary Fund has said that Gulf states' dollar peg has served the region well and inflationary pressures haven't returned, Bloomberg has reported. The increase in oil prices from December lows 'is going to produce a rebound in the surpluses, external surpluses of this region that's going to be a new challenge,' Lipsky said in an interview at the World Economic Forum in Dubai. Inflation in Saudi Arabia eased to 3.5% in October, its slowest pace since June 2007.
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StaffSunday, November 22 - 2009 at 10:53 UAE local time (GMT+4)
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