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WASHINGTON: Banks within the Center East and Central Asia have very restricted publicity to final month’s banking turmoil within the US and Europe, however monetary pressures are including to strains brought on by excessive rates of interest, unstable oil costs and years of double-digit inflation, a high IMF official mentioned on Saturday.
Jihad Azour, director of the Worldwide Financial Fund’s Center East and Central Asia division, mentioned the banking sector strains got here on high of tighter financial insurance policies that raised charges and decreased accessibility to finance.
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