About: http://data.cimple.eu/news-article/d07b04239fd924be0dcf6bd399f14adc22ca38a1b5a246585200813d

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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	The International Monetary Fund called for urgent action from Middle East governments Tuesday as the coronavirus pandemic threatens a persistent slump in oil revenues and a "big drop" in growth. The International Monetary Fund said a dozen Middle East and North African countries had already approached it for financial support. It urged governments across the region to swiftly draw up rescue packages to head off a protracted recession. "The region is likely to see a big drop in growth this year," the IMF's regional director for the Middle East and Central Asia, Jihad Azour, said in a report. The IMF had already substantially cut its growth projections for the region over low oil prices, civil unrest and US sanctions against Iran. The coronavirus pandemic has triggered a 50 percent fall in oil prices that has slashed government revenues across the region. "The coronavirus pandemic has become the largest near-term challenge to the region," Azour said. "The pandemic is causing significant economic turmoil in the region through simultaneous shocks -- a drop in domestic and external demand, a reduction in trade, disruption of production, a fall in consumer confidence, and tightening of financial conditions." The coronavirus shutdown is hurting sectors that are major sources of employment like tourism, hospitality and retail, with rising joblessness and falling wages the likely results, he said. IMF chief Kristalina Georgieva said Monday that world economic growth will be negative this year and could be worse than the 2008 global financial crisis, further sapping demand for Middle East oil. oh/dm/kir
schema:headline	IMF urges action to face 'big drop' in Mideast growth
schema:mentions	Recession International Monetary Fund Middle East Pandemic Coronavirus Jihad Azour Emergency Economic Stabilization Act of 2008 Central Asia Kristalina Georgieva Financial crisis of 2007–2008 Consumer confidence Kir (cocktail) Government of the Islamic Republic of Iran
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-24 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	86 (xsd:integer)

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