Lending boom is over
Oman witnessed rapid credit expansion between 1995 and 1999 as the domestic loan stock grew at an annual average rate of 19.8%. During this credit boom total personal loans rose at an average rate of 22.8% while the corporate loan book also grew at a high rate of 18.2%.
Over the past two and half years loan growth in Oman has slowed down considerably and...
On October 2, 2002, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Oman.1
Despite lower global crude oil prices, Oman's macroeconomic performance remained positive in 2001, leading to an additional accumulation of resources into the State General Reserve Fund (SGRF). An increase in liquefied natural gas (LNG) exports by US$700...