IMF: Gulf’s financial wealth could be over in 15 years

IMF: Gulf’s financial wealth could be over in 15 years

February 6, 2020 at 5:36 pm | Published in: GCC , IMF , International Organisations , Kuwait , Middle East , News , Saudi Arabia , UAE. The International Monetary Fund (IMF) said on Thursday Gulf Arab states - some of the world's richest countries - could see their financial wealth depleted in the next 15 years amid lower hydrocarbon revenues if they don't step up fiscal reforms, Reuters reports.. While lower crude prices have put pressure on governments to generate non-oil revenues and fix their finances, "the effect of lower hydrocarbon revenue is to be fully offset," the IMF said in a report..