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Lagarde expects sustainable, but reduced growth in Gulf region
- Middle East: Monday, October 08 - 2012 at 06:15
The head of the International Monetary Fund, Christine Lagarde has said the economies of the countries of the GCC will continue to enjoy high growth rates, although at reduced rates, the Associated Press has reported. Lagarde also praised the GCC countries' management of oil prices and reserves, and lauded their financial contribution to the transition of Arab countries following the uprisings that have rattled local economies. "I would like to stress the important, positive role the GCC countries play in the broader Middle East and North Africa region, and the world at large," Lagarde said.
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