The debt crisis and its impact on economic development (on the Example of the Sultanate of Oman)

A. Said ()

International Trade and Trade Policy, 2022, vol. 8, issue 2

Abstract: In the article examines the development of global debt, and the role of the International Mone- tary Fund (IMF) as an institutional entity tasked with maintaining the stability of the interna- tional monetary system, given that it’s powers has been exceeded; by adopting a model of growth and development at the global level and providing countries with reform recommenda- tions in economic and finance politics. Then it focus on the growth of the Sultanate of Oman's external debt and its relationship with fluctuating world prices of oil and its impact on the state budget deficit. Some figures related to the period from 2009 to 2020 have been highlighted and analysis, with reference to the COVID-19 period and how it has affected the economy in Oman. The article concludes with some measures taken by the Sultanate of Oman to confront the debt crisis in the medium and long term.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2022:id:521

DOI: 10.21686/2410-7395-2022-2-94-104

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