IMF warns on cheap oil effects, but is encouraged by Gulf economic reform plans

The International Monetary Fund has calculated that oil exporting countries in the Middle East and central Asia lost $390 billion (346 billion euros) in revenue due to "lower crude prices": last year.

Masood Ahmed, the IMF's director for the region, is warning it should brace for losses of between $490 billion (435 billion euros) and $540 billion (480 billion euros) this year, compared to 2014 when oi…
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