Poor countries bear up under oil price strain – IMF

The sharp rise in oil prices over the past three years has had little impact on the economies of the International Monetary Fund’s poorest borrowers, according to research by IMF economists on Tuesday.

As oil prices rose, these borrowers also had little need for additional IMF funding, the economists said, attributing this to strong global economic conditions.

They said any negative impact from the higher prices would have been evident through requests by countries for increased access under existing IMF programs.
Reuters