The International Monetary Fund called for urgent action from Middle East governments Tuesday as the coronavirus pandemic threatens a persistent slump in oil revenues and a “big drop” in growth. The International Monetary Fund said a dozen Middle East and North African countries had already approached it for financial support. It urged governments across the region to swiftly draw up rescue packages to head off a protracted recession.
“The region is likely to see a big drop in growth this year,” the IMF’s regional director for the Middle East and Central Asia, Jihad Azour, said in a report.