A London Based Digital Publication Covering Diplomatic & Business Activities Globally

Wednesday, April 24, 2024

GCC shielded World Economy from ‘Serious Damage’: Lagarde

GCC shielded World Economy from ‘Serious Damage’: Lagarde(Riyadh) – Christine Lagarde, Managing Director of the International Monetary Fund (IMF), has issued a statement lauding the Gulf nations’ pragmatic oil stabilization policies for safeguarding the global economy from falling into an inflationary spiral by helping stem the spike in oil prices. Lagarde in a media statement issued at the conclusion of a meeting in Riyadh, Saudi Arabia, with the finance ministers and central bank governors of the Gulf Cooperation Council (GCC) said, “GCC countries’ oil policy has helped stabilize oil markets and counter price pressures that could have inflicted serious damage on the world economy”.
She also hinted that the GCC model of cooperation was better suited to economic well-being of its member nations than perhaps the Euro Zone model.

Latest Posts

Latest Posts

Stay in touch

To be updated with all the latest news, offers and special announcements.

RELATED ARTICLES

UAE & Turkmenistan expand Economic ties

Turkmenistan's Berdimuhamedow urges UAE collaboration in gas field development....

Crown Prince Appreciates the World Governments Summit Team

The Crown Prince Appreciates the valuable efforts of the...

WTO Promotes Consensus

The final World Trade Organization General Council meeting before...

UK and Azerbaijan celebrate growing bilateral relations

UK PM Rishi Sunak congratulated President Ilham Aliyev on...

World Government Summit brings Global leaders to Dubai

The pre-summit day of the World Governments Summit (WGS)...

HH Shiekh Mohammed bin Rashid Meets Youth

Sheikh Mohammed bin Rashid Al Maktoum met with Arab...

Shiekh Hamdan Bin Zayed Honors Environmental Achievers

His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s...

Princess Kate shares a Message after meeting HM the King

Prince William and Kate Middleton share a Children's Mental...

HM King of Sweden to visit Europe

King Frederik X of Denmark and Queen Mary will...