Search Results

You are looking at 1 - 10 of 10 items for :

  • "GCC share" x
Clear All
Mr. Mohamed A. El-Erian and Ms. Susan Fennell

Kuwait’ 71.2 92.5 97.0 96.5 129 Oman 5.9 4.0 4.2 5.0 15 Saudi Arabia 2 151.8 171.5 260.1 261.2 88 United Arab Emirates 32.2 33.0 98.0 98.1 121 Total GCC Proven Reserves 267.0 304.3 462.3 464.5 75 Memo items : Global Proven Reserves 666.7 708.9 1,005.6 1,017.0 GCC share (percent) 40.0 42.9 46.0 45.7 OPEC Proven Reserves 463.1 535.8 771.4 785.1 GCC share (percent) 44.1 47.2 50.6 50.2 Source: OPEC; and British

Tahsin Saadi Sedik and Mr. Oral Williams

excellent research assistance. All errors and omissions remain ours. 1 As of December 2010 the GCCs share of OPECs excess capacity was 78 percent. 2 However informal market exist for much longer time. 3 In May 2010 the FTSE include the U.A.E. exchanges in its emerging markets index which is followed by 170 different funds. 4 The sample is dictated by the data availability for some GCC markets. UAE index is available from June 2002 onward. Dubai index is used as a proxy for the UAE index from April 2000 to May 2002. 5 We use nominal GDP as

Ms. May Y Khamis, Mr. Abdelhak S Senhadji, Mr. Gabriel Sensenbrenner, Mr. Francis Y Kumah, Maher Hasan, and Mr. Ananthakrishnan Prasad

Official Reserves, 2000–08 5 GCC: Average Annual Real Growth in Credit to the Private Sector, 2003–08 6 GCC: Economic Activity, Money, and Credit, 2000–08 7 GCC: Trends in Private Sector Credit, 1992–2008 8 U.S. Dollar Movements and GCC Inflation 9 GCC: Real Effective Exchange Rate Indices 10 GCC: Share of Credit to Real Estate and Construction Sectors, 2002 and 2008 11 GCC: Foreign Liabilities to Total Liabilities, 2003–08 12 GCC: Capital Adequacy Ratios 13 Credit Growth and Capital Adequacy Ratios in Selected Emerging Countries 14 GCC: Debt

International Monetary Fund. External Relations Dept.
Eduardo Aninat assumed the office of IMF Deputy Managing Director on December 14, 1999. Before coming to the IMF, Aninat, a native of Chile, had served as Finance Minister of Chile from 1994 and chaired the Board of Governors of the IMF and the World Bank in 1995-96. Previously, he worked in the private sector and as a consultant for the World Bank and the Inter-American Development Bank. Aninat recently met with editors of the IMF Survey to talk about his experience with the IMF and his hopes and plans for the future.
Ms. May Y Khamis, Mr. Abdelhak S Senhadji, Mr. Gabriel Sensenbrenner, Mr. Francis Y Kumah, Maher Hasan, and Mr. Ananthakrishnan Prasad
This paper focuses on impact of the global financial crisis on the Gulf Cooperation Council (GCC) Countries and challenges ahead. The oil price boom led to large fiscal and external balance surpluses in the GCC countries. However, it also generated domestic imbalances that began to unravel with the onset of the global credit squeeze. As the global deleveraging process took hold, and oil prices and production fell, the GCC’s external and fiscal surpluses declined markedly, stock and real estate markets plunged, credit default swap spreads on sovereign debt widened, and external funding for the financial and corporate sectors tightened. In order to offset the shocks brought on by the crisis, governments—buttressed by strong international reserve positions—maintained high levels of spending and introduced exceptional financial measures, including capital and liquidity injections. The immediate priority is to complete the clean-up of bank balance sheets and the restructuring of the nonbanking sector in some countries. Clear communication by the authorities would help implementation, ease investor uncertainty, and reduce speculation and market volatility.
International Monetary Fund

. Specific features of the Financial Undertakings Act No. 161/2002 make it virtually impossible for a savings bank to merge unless it merges with another savings bank, or it first converts into a limited liability company. The later conversion, however, will covert GCC into shares in the new company with an ownership share equal to the ratio of GCC share capital (at book value) to the estimated market value of the savings bank. The remaining portion of shares that are not allocated to GCC become the property of a self-governing foundation that is tax exempt and managed by

International Monetary Fund. Middle East and Central Asia Dept.

Cooperation Council (GCC) countries, the ability to work from home is higher for nationals than for expatriates ( Figure 2.9 ) because of a much greater prevalence of national workers in managerial and professional occupations and within the government sector. Figure 2.9. GCC: Share of Jobs that Can Be Performed from Home for Expatriates and Nationals (Percent) Sources: National authorities; and IMF staff calculations. Note: GCC = Gulf Cooperation Council. Work from home estimates are based on the analysis by Dingel and Neiman (2020) of which occupations can

Tahsin Saadi Sedik and Mr. Oral Williams
This paper analyzes the impact of global and regional spillovers to GCC equity markets. GCC equity markets were impacted by spillovers from U.S. equity markets despite varying degrees of foreign participation. Spillovers from regional equity markets were also important but the magnitude of the effects were on average smaller than that from mature markets. The results also illustrated episodes of contagion in particular during the recent global financial crisis. The findings suggest that given the degree of openness, and open capital accounts the financial channel is an important source through which volatility is transmitted. In this regard, GCC equity markets are not immune from global and regional financial shocks. These findings refute the notion of decoupling between the GCC equity and global equity markets.
Ms. May Y Khamis, Mr. Abdelhak S Senhadji, comprising Maher Hasan, Mr. Francis Y Kumah, Mr. Ananthakrishnan Prasad, and Mr. Gabriel Sensenbrenner

. GCC: Real Effective Exchange Rate Indices (Indices, 2000=100) Source: IMF Information Notice System. A Buildup of Vulnerabilities In some GCC countries, credit growth went largely into construction and real estate lending, fuelling a real estate boom ( Figure 10 ), and some countries experienced an increase in lending for the purchase of securities. 7 While most of this growth was financed by domestic deposits, banks’ foreign liabilities also increased ( Figure 11 ). Figure 10 . GCC: Share of Credit to Real Estate and Construction Sectors

International Monetary Fund
The 2001 financial system stability assessment identified risks of financial sector instability, as rapid increases in foreign and domestic currency indebtedness, accumulating external imbalances, and inflation accompanied Iceland's expansion of the late 1990s. The insurance sector, composed of 15 domestic insurance companies including four life insurance companies and three larger companies that dominate the nonlife market, is the smallest sector in the financial system. The authorities monitor banks' long-term foreign exchange refunding needs and the outcomes of refunding operations.