As the world’s financial woes deepen, it’s unlikely the GCC region will emerge unscathed.
No wonder politicians all over the world are bracing themselves for the possible impact of the financial crisis. Since the September 15 collapse of US investment bank Lehman Brothers, fears of a global financial meltdown have reached new height; and in early October the IMF said it expected losses related to US financial products to top USD 1.4 trillion – up from its prior estimate of USD 945 billion.
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