The debt crisis and its impact on economic development (on the Example of the Sultanate of Oman)
https://doi.org/10.21686/2410-7395-2022-2-94-104
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.
About the Author
A. Said
Plekhanov Russian University of Economics
Russian Federation
Russian Federation
Al Marhoon Altaf Omar Said, Post-Graduate Student of the Department of World Economy
36 Stremyanny Lane, Moscow, 117997
References
1. Aidrus I. A. Z., Dolgopolov D. V. X mezhdunarodnaya konferenciya «Strany s razvivayushchimisya rynkami v usloviyah finansovo-ekonomicheskogo krizisa [X International Conference "Countries with Emerging Markets in the Conditions of Financial and Economic Crisis"], Vestnik Rossiyskogo universiteta druzhby narodov. Seriya: Ekonomika [Vestnik of the Peoples' Friendship University of Russia. Series: Economics], 2011, No. 2, pp. 108–112. (In Russ.).
2. Aidrus I. A. Z., Chapanova M. A. Ob investicionnyh fondah i venchurnom kapitale v kontekste islamskih finansov [On Investment Funds and Venture Capital in the Context of Islamic Finance], Rossiya i Aziya [Russia and Asia], 2017, No. 1, pp. 32–43. (In Russ.).
3. Bibikova O. P., Zhilina I.Yu. Social'no-ekonomicheskie posledstviya pandemii COVID-19 v monarhiyah Persidskogo zaliva [Socio-economic the Consequences of the COVID-19 Pandemic in the Persian Gulf Monarchies], Ekonomicheskie i social'nye problemy Rossii [Economic and Social Problems of Russia], 2020, No. 3 (43), pp. 37–67. (In Russ.).
4. Glavina S. G. Novye metody privlecheniya kapitala dlya regional'nogo razvitiya [New Methods of Raising Capital for Regional Development], Izvestiya vysshih uchebnyh zavedeniy. Seriya: Ekonomika, finansy i upravlenie proizvodstvom [News of Higher Educational Institutions. Series: Economics, Finance and Production Management], 2021, No. 2 (48), pp. 79–85. (In Russ.).
5. Rusakovich V. I. Oman: strukturnye preobrazovaniya i ekonomicheskiy rost [Oman: Structural Transformations and Economic Growth], Aziya i Afrika segodnya [Asia and Africa Today], 2018, No. 3 (728), pp. 48–55. (In Russ.).
6. Khasbulatov R. I., Byasharova A. R. Koronavirusnyy ekonomicheskiy krizis v mirovoy ekonomike: osobennosti i posledstviya [Coronavirus Economic Crisis in the World Economy: Features and Consequences], Mezhdunya ekonomika [International Economy], 2020, No. 5, pp. 7–21. (In Russ.).
7. Shkvarya L. V. Strany Persidskogo zaliva: sovremennye tendencii ekonomicheskogo razvitiya : monografiya [Persian Gulf Countries: Modern Trends of Economic Development : a monograph]. Yalta, 2021. (In Russ.).
8. Shkvarya L. V. Finansovye potoki v stranah Afriki: istochnik dlya realizacii infrastrukturnyh proektov [Financial Flows in African Countries: a Source for the Implementation of Infrastructure Projects], Afrika v poiskah istochnikov mira i razvitiya. Ezhegodnik. Ser. "Afrikanskie issledovaniya" [Africa in Search of Sources of Peace and Development. Yearbook. Ser. "African Studies"]. Moscow, 2013, pp. 206–215. (In Russ.).
9. Shkvarya L. V. Social'no-ekonomicheskaya dinamika stran SSAGPZ i novye tendencii [Socio-economic Dynamics of the GCC Countries and New Trends], Rossiya i Aziya [Russia and Asia], 2021, No. 2 (16), pp. 9–20. (In Russ.).
10. Aidrous I. A., Morsi B. Fundamentals and Principles of Islamic Finance, Lecture Notes in Networks and Systems, 2022, Vol. 372, pp. 487–495.
Review
For citations:
Said A. The debt crisis and its impact on economic development (on the Example of the Sultanate of Oman). International Trade and Trade Policy. 2022;8(2):94-104. (In Russ.) https://doi.org/10.21686/2410-7395-2022-2-94-104
Views:
406
Email this article 
