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A. Mr. Senhadji Semlali
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May Ms. Khamis
pubblicato da
INTERNATIONAL MONETARY FUND
The GCC countries performed well during the 2003-08 oil boom, but the boom also presented challenges. Buoyant economic activity, rising consumer and investor confidence, and abundant liquidity spurred excessive credit growth, inflation, and asset price increases. In addition, in some countries, banks' growing dependence on foreign financing and exposure to real estate, construction lending, andto a lesser extentthe equity market, contributed to balance sheet vulnerability in the event of a slowdown in economic growth and a decline in asset prices. In the corporate sector, the boom was associated with higher leverage, which increased the sector's vulnerability to the availablitity and cost of financing.
Scrivi una recensione per "Impact of the Global Financial Crisis on the Gulf Cooperation Council Countries and Challenges Ahead: An Update"
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