Egypt and Tunisia received loans from the World Bank this week to help them face rising global food prices, but the loans will not cover all of the increase in imports and alleviate strains in balance sheets. Elsewhere, despite no decision being made at today’s meeting, OPEC+ could remove quotas from September. That would provide a major fillip to GDP growth in the Gulf economies over the next few years. And finally, the Saudi central bank injected funds into the local banking sector to ease liquidity concerns but more may be required in order to support strong credit growth.
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