Mideast 'early inoculators' to recover by 2022: IMF

The economies of “early inoculating” countries in the Middle East and North Africa will bounce back to pre-pandemic levels next year, the International Monetary Fund said on Sunday, after raising its 2021 MENA growth forecast. The region, which includes the Arab countries and Iran, saw its real GDP growth shrink by 3.4% in 2020 due to lower oil prices and sweeping lockdowns to prevent the spread of the coronavirus. But with rapid vaccination campaigns underway particularly in the Gulf countries, the IMF earlier this week predicted that GDP growth would rise to 4.0% this year, an upgrade of 0.9…

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HEDGE accordingly