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Saudi Shura Council Calls for Allowing Foreign Ownership of Real Estate

Positive IMF assessment seen as vote of confidence in Saudi reform strategy

DUBAI: Economic policymakers sometimes feel a little edgy when the International Monetary Fund (IMF) comes to town. The 77-year-old global financial institution is not a regulator in the strict sense of the word, but it does have the power to deliver a positive or negative verdict on the way those policymakers ministers, central bankers, and officials are running their economy. In extreme circumstances, the IMF can approve or withhold potentially life-saving funds from an economy in crisis. In more normal conditions, its verdict can have a big influence on the international credit ratings all countries use when accessing global capital markets.

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