Economy

Economy
The Lebanese pound sank to a new low on the black market as the political crisis continues.
riad salameh
Disagreements in Lebanon over the size of the losses and how they should be distributed torpedoed IMF talks last year. The central bank, banks and political elite rejected figures set out in a government plan that was endorsed by the IMF at the time.
Algeria flag
A major oil and gas producer, Algeria has suffered years of shrinking energy revenue with both prices and output sliding since 2014, and it has made little progress diversifying its state-centred economy.
Turkish lira
The Turkish lira fell to record lows against the dollar on Tuesday as Turkey faces its worst currency crisis since August 2018.
Israel UAE flags [Getty]
Trade between Israel and Dubai has surged to $700 million since normalisation, with diamonds being one of the most commonly dealt commodities.
Oman Grand Mufti
The Grand Mufti of Oman, Sheikh Ahmed bin Hamad Al-Khalili, hailed Erdogan for slashing interest rates and urged all Muslim governments to follow his lead.
IMF
The IMF announced that it reached an agreement with Pakistan to revive a loan originally approved in 2019
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India company Reliance has pulled out of a multi-billion dollar deal with Saudi oil giant Aramco.
Cows in Algeria
Algeria's oil-dependent economy has been sluggish in recent years due to lower oil prices and the Covid-19 pandemic. This could change if its shifts to agriculture, some believe
Tunisia is suffering from an economic and political crisis, as well as the effects of the Covid-19 pandemic [Getty]
The IMF has received a request for aid from the new Tunisian government, amid a political crisis and a severe economic downturn.