AFP: Mideast oil exporters' foreign reserves to rise: IMF

AFP: Mideast oil exporters' foreign reserves to rise: IMF

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Mideast oil exporters' foreign reserves to rise: IMF
By Ola Galal (AFP) – 6 days ago
DUBAI — Oil exporters in the Middle East and North Africa region are expected to increase their international reserves by over 100 billion dollars in 2010 as oil prices rebound, the IMF said on Sunday.
The rebuilding of reserves will help governments of the region maintain public spending, which has mitigated the impact of the global financial turmoil on their economies, the International Monetary Fund said in report released in Dubai.
"With higher oil prices and the anticipated re-emergence of global demand, oil revenues are expected to increase, allowing oil exporters to rebuild their international reserve positions by over 100 billion dollars in 2010," the Middle East and Central Asia Regional Economic Outlook said.

AFP: Mideast oil exporters' foreign reserves to rise: IMF