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Mena Focus

Impact of U.S. Growth and Credit Downgrades on MENA

By Ayah El Said, Maya Senussi and Rachel Ziemba
Aug 10, 2011 3:00:00 PM | Last Updated

  • The stall in U.S. growth, rather than S&P’s credit downgrade, is of greatest concern for MENA, as it signals a slowdown in global growth that could continue to impair oil prices, and in turn local liquidity.
  • The slowdown in global growth is coinciding with the moderation of the effect of the early 2011 stimulus measures in the GCC and with the deterioration of the eurozone (EZ) outlook.
  • OPEC members, worried about global growth, may halt their plans to boost oil output to keep prices high enough to balance budgets, lest they have to draw heavily on past savings.
  • Like global[...]

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