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Gulf states risk deficit as oil price falls, IMF head Lagarde says

by AFP
Finance ministers and central banks governors of the Gulf Cooperation Council (GCC) countries pose with International Monetary Fund (IMF) Managing Director Christine Lagarde (centre) during their annual meeting on Saturday, in Kuwait City. Kuwait Oil Minister Anas al-Saleh warned energy-dependent Gulf states that the drop in oil prices has started to impact their finances and called for urgent economic reforms. Photo: AFP
A sustained decline of $25 a barrel in the oil price would reduce the revenues of most Gulf countries by eight per cent of GDP, IMF chief Christine Lagarde said on Saturday

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