The surprise increase in Saudi oil production in January suggests the Kingdom is no longer willing to shoulder the brunt of oil output cuts, which reduces the chance of deeper cuts in response to the coronavirus outbreak. Dubai’s property slump is showing signs of intensifying after the developer DAMAC reported its first loss since 2010. If the real estate sector continues to struggle, the exposure of Dubai’s GREs to it may make servicing large upcoming debts difficult. Elsewhere, the IMF confirmed that it is providing technical assistance to Lebanon as the first steps towards a deal are made. But any deal is likely to come with a devaluation and debt restructuring.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services