IMF expects GCC reserves to grow by $300-$350 bln in three years on higher oil prices
The International Monetary Fund expects the foreign reserves of the six oil-rich Arab countries of the Gulf Cooperation Council (GCC) to increase by $300-$350 billion in the next three years, a senior official said on Tuesday. The GCC – which comprises Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain, Oman – “will benefit from…