Policy Priorities to Promote a Robust Post-COVID-19 Recovery in GCC Countries and IMF Outlook for Oil Exporting Countries

The International Monetary Fund (IMF) and Al-Iktissad Wal-Aamal Group are organizing a Webinar titled: Policy Priorities to Promote a Robust Post-Covid19 Recovery in the GCC Countries on Tuesday 30 June 2020 at 14:00 pm Riyadh time, 15:00 pm Abu Dhabi time.

The Webinar will discuss the impact of the Covid19 pandemic and of lower oil prices on the Gulf economies and needed policies to accelerate the recovery following the gradual lifting of movement and travel restrictions. It will come after the release of the recently released updated Global IMF outlook that predicted severe global economic contraction.

In addition to Dr. Jihad Azour, director of the Middle East and Central Asia Department at the IMF, the lineup of panelists includes: HE Dr. Ahmed AlKholifey, Governor of the Saudi Arabian Monetary Agency, HE Rasheed Al Maraj, Governor of the Central Bank of Bahrain and Alain Bejjani, CEO, Majid Al Futtaim Holding (MAF).

Over the course of a 90 minutes, the Webinar will discuss the following issues:

• An updated IMF outlook for the oil exporting countries in the region.
• What have we learned so far from the COVID-19 crisis and what are the immediate priorities for the GCC economies? 
• How can GCC countries tackle the economic challenges stemming from the triple whammy of the COVID-19 pandemic, falling oil prices and oil production cuts, to avoid a long-lasting “economic scarring” due to the current crisis? And what is the appropriate mix of policy adjustment and use of buffers?
• What are the key policy priorities to promote a robust recovery after the pandemic eases? And what are the key policies that countries should consider in an environment of sustained low oil prices?  
• What opportunities does the crisis offer and how can countries leverage these? And how to preserve the private sector-led economic diversification agenda, to spur growth and create jobs in a post-COVID-19 world?