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Greece's former prime minister Alexis Tsipras Monday released a long-awaited memoir, 10 years after the trauma of the country's debt crisis, as he reportedly mulls a political comeback.The ex-Communist youth leader, who came to power in 2015 as an anti-austerity firebrand at the head of the left-wing Syriza alliance, was forced to negotiate a multi-billion-dollar rescue with Greece's EU-IMF creditors.Now 51, he has said he felt an "obligation" to "recount the events as I experienced them, to capture the conditions, the conflicts, the dilemmas, and the cost"."It is time for my voice to be heard," he said in a statement this month.The memoir — an epic 730 pages — is titled *Ithaki, the Ionian island also known as Ithaca, where Tsipras in 2018 emphatically declared Greece's exit from its decade-long economic crisis.Much of his ire over Greece's troubled financial odyssey is directed at former comrades, including finance minister of the time Yanis Varoufakis.Tsipras said he picked the maverick economist to show "aggressive determination" but that ultimately he was a "celebrity" who became intolerable even to his own colleagues.There are also details about Tsipras' tightrope negotiations with world leaders, including former US president Barack Obama, Germany's Angela Merkel and Russia's Vladimir Putin.He recalled Merkel being left "speechless" by his decision to hold a referendum on the EU-IMF rescue deal.While Obama offered behind-the-scenes guidance, Putin bluntly turned down an offer to buy Greek government bonds, saying he would rather give the money to an orphanage.Tsipras insists the referendum, in which Greeks overwhelmingly voted to reject further cuts, was a "weapon" to stave off national "humiliation".But he also admitted that some members of his party had a tenuous grip on reality when it came to the issues at stake.Zoe Konstantopoulou, who was picked by Tsipras to be head of parliament but later fell out with him over the rescue deal he approved, Monday called him a "traitor".And some of Tsipras' attributions to the former leader of the socialist Pasok party Fofi Gennimata, who died in 2021, were untrue, one of her close aides said Monday.The book "puts words into the mouth of a person who can no longer respond and defend the truth", said former Pasok MP Manolis Othonas.Tsipras stood down as prime minister after losing a 2019 national election to the conservative New Democracy party of Kyriakos Mitsotakis, the current prime minister.He quit as party leader in 2023 after Mitsotakis inflicted an even broader election defeat in back-to-back polls. In October he also stepped down as MP.Syriza repeatedly fractured after Tsipras' departure, and currently polls in sixth place at around 5.0%.Tsipras last year formed a political institute, and is believed to be planning the creation of a new political movement or party, which polls show would be supported by about 20% of voters.

Growth has accelerated in Middle Eastern and North African countries this year despite global uncertainty and conflicts in the region, according to an IMF report published on Tuesday."Despite all the shocks we saw to trade with the tariff measures, geopolitical tension, the conflicts, the volatility in oil prices, we see that growth has been performing better than last year," Jihad Azour, IMF director for the Middle East and Central Asia, said in an interview with AFP."And it's not only in a group of countries, but I would say spread around the region," he added.The institution presented its latest regional report in Dubai on Tuesday, forecasting growth of 3.3 percent this year in the MENA region and 3.7 percent in 2026–0.7 and 0.3 percentage points higher, respectively, than its previous projections in May.The region's GDP grew by 2.1 percent in 2024.Gulf countries have particularly benefited from increased oil production, which offset falling prices, while others saw gains from rebounds in tourism, industry or agriculture, Azour explained.Despite the war in Gaza, "the region was able to withstand the big geopolitical shock of the last two years", including neighbouring countries such as Jordan and Egypt, Azour said.The current ceasefire in the Palestinian territory is "an important and welcome development", but it is still too early to know whether it will affect the region's economic outlook."The impact on the region hinges on how this stability will materialise into improvement in the overall risk profile for the region and also what we see of potential reconstruction or post-conflict in Syria, Lebanon and in Gaza, and also later in the West Bank," he explained.The immediate priority is to assess the damage in Gaza and the reconstruction needs, with support from the United Nations and the World Bank, Azour added.Financing needs will also be "immense" in other conflict-affected countries such as war-wracked Yemen and Sudan due to declining international aid, he added.

Aiming to acquire global insights, play a role in policy discussions, and strengthen its international credibility, Commercial Bank has participated in the 2025 annual meetings of the International Monetary Fund (IMF) and the Institute of International Finance (IIF) in Washington, DC.The reception, hosted by the Qatari Banks on October 15 was attended by HE the Minister of Finance, Ali bin Ahmed al-Kuwari; HE the Governor of Qatar Central Bank, Sheikh Bandar bin Mohammed bin Saoud al-Thani; as well as Board members, CEOs and senior executives of Qatari banks.Commercial Bank was represented at these meetings by Board Member, Mohamad Ismail Mandani al-Emadi; Group CEO, Stephen Moss; Executive General Manager and Chief Marketing Officer, Eiman al-Naemi; Executive General Manager, Chief Wholesale and International Banking Officer, Fahad Badar; Executive General Manager, Treasury and Investments, Parvez Khan; and Senior AGM and Head of ALM, Omran al-Sherawi.Throughout these meetings, Commercial Bank explored new business opportunities and strengthened relationships with leading banks across the region and globally, showcasing its leadership in digital innovation.Moss noted: “The innovative solutions we introduce and steps we take to support the growth of Qatar’s financial sector are further strengthened by the knowledge and connections we gain at the annual IMF and IIF meetings. These gatherings give us access to best practices and insights that we bring back home to Qatar and implement in the best way possible.”

His Excellency the Minister of Finance Ali bin Ahmed al-Kuwari participated in the meeting of Finance Ministers, Central Bank Governors, and Heads of Regional Financial Institutions from the Middle East, North Africa, Afghanistan, and Pakistan. The meeting was chaired by Kristalina Georgieva, Managing Director, International Monetary Fund (IMF), and was held on the sidelines of the IMF and World Bank Group Annual Meetings, now being held in Washington, DC. The meeting discussed key strategic issues related to economic growth in the region, in addition to future outlooks and fiscal policy requirements to combat inflation. It also addressed sustainable financing strategies, ways to stimulate economic growth, and the promotion of innovation in financial development.Regional and global challenges were also reviewed, particularly the risks of rising inflation rates and food insecurity. The participants stressed the importance of continuing efforts to adapt to the current financial and economic developments.The meeting was held within the framework of enhancing regional cooperation and the exchange of insights among financial and economic policymakers, with the aim of supporting economic stability and achieving sustainable development across the region.

IMF Managing Director Kristalina Georgieva has highlighted the GCC region’s “comparative advantage” in terms of access to energy that helps it host data centres and cites Qatar's partnership with Blue Owl Capital as an example.“GCC’s comparative advantage in terms of access to energy is helping it unlock major projects to host data centres. Examples include partnerships with Humain and Nvidia in Saudi Arabia, Blue Owl Capital in Qatar, or the US-UAE AI accelerated partnership,” Georgieva said in her meeting with the Ministers of Finance and Central Bank Governors of the Gulf Co-operation Council (GCC) in Kuwait.Georgieva noted: “The last time we saw each other was during the Spring Meetings six months ago. At the time, trade tensions brought global uncertainty to new highs, contributing to a downward revision in our global growth projections.“Since then, a series of trade agreements and pauses in tariff increases have prevented escalation. Almost all countries subjected to US tariffs have refrained from retaliating. This, combined with the fact that the rest of trade relations among countries remain guided — so far — by WTO rules, allowed us to avoid a full-scale trade war.”In addition, she noted the private sector has shown “impressive” agility and adaptability, front-loading cross-border purchases, adjusting supply chains and pursuing investment strategies aligned with a more complex global environment.And access to finance has eased both for the public and the private sector. As a result global growth prospects are better than feared during our last meeting in April.Yet, they are still worse than pre-Covid and the world economy remains in flux. Major transformational forces are in play, from geopolitics to trade relations, technology and demography, producing new opportunities but also new risks.They steer anxiety in societies and complicate the job of policymakers. Navigating uncertainty is becoming the new normal.She said, “In this environment, risks to the global outlook remain tilted to the downside. Protectionism could lead to escalation of trade tensions, with negative impact on supply chains. Erosion of confidence could constrain consumption and investment. Shocks to labour supply, including from changing immigration policies, could lower growth, especially in countries with aging populations.”Georgieva said the outlook is not homogeneous — while some parts of the world are slowing down, others do better. Growth is expected to accelerate in the Middle East and Central Asia as global headwinds are offset by an increase in oil production, and structural reforms pay off.“As for the GCC, a year ago I said that the GCC ‘remains a bright spot’ despite the numerous shocks.”Since then, global uncertainty has increased, including related to shifts in the global trade system, while oil prices have declined and geopolitical tensions have intensified.“Yet, despite this increasingly challenging environment, the GCC continues to deliver strong and steady performance and is still a bright spot in the world economy. You, the finance ministers and central bank governors of the region, deserve credit for the strong reform momentum underlying this. It is making the GCC more resilient, as evidenced by limited spillovers from tensions and conflicts in the region,” Georgieva said.She noted the impact of higher US tariffs on GCC economies has been modest, with exports to the US ranging from just 0.1% of total exports for Kuwait and up to 8% for Bahrain.“Against this backdrop, we now expect overall GCC growth to accelerate to a 3-3.5% range in 2025 and close to 4% in 2026, supported by the resilience of the non-hydrocarbon economy, the unwinding of voluntary oil production cuts, and the expansion of natural gas production.”Over the medium term, non-hydrocarbon activity is set to remain strong on the back of ambitious reform efforts facilitated by ample policy buffers — both official reserves and those available through sovereign wealth funds. This activity is expected to offset the impact of lower oil prices.But there are risks to this outlook. Oil prices and revenues could be negatively affected by weaker oil demand, driven by elevated economic uncertainty, an escalation of global trade tensions, or deepening geo-economic fragmentation.Additionally, a potential supply glut may emerge as Opec+ continues to unwind voluntary oil production cuts at a time when demand remains weak.“In a downside scenario where oil prices temporarily fall to $40 per barrel, non-hydrocarbon GDP growth in the GCC could slow by 1.3 percentage points, while fiscal deficits could rise significantly. In addition, high global uncertainty could lead to tightening of financial conditions and lower FDI, thereby threatening the economic diversification agenda.“Over the medium term, the outlook remains subject to two-sided risks related to ongoing global structural shifts, such as the energy transition, potential global fragmentation, digitalisation and the use of AI,” Georgieva noted.

Qatar's economy continues to show resilience and the outlook remains favourable with medium-term growth projected to average 4%, reflecting the North Field expansion, according to the International Monetary Fund (IMF).Twin external and fiscal surpluses are expected to continue and inflation is slated to remain above 2.5% in 2026 before it stabilises around 2% over the medium term, the IMF said in its Article IV consultation with Qatar."Qatar’s economy continues to demonstrate resilience, supported by forward-looking policies and large hydrocarbon wealth," said the Bretton Woods institution.The planned expansion of liquefied natural gas (LNG) production in the North Field will further strengthen Qatar’s position as a key global energy supplier and support both fiscal and external balances, it added."Overall growth over the medium term is projected to average 4%, reflecting the North Field expansion, which will significantly increase LNG production, and implementation of NDS3" (Third National Development Strategy), it said.“The ongoing implementation of NDS3 is facilitating a transition towards a private sector-led, knowledge-based, more diversified, and environmentally sustainable economy," according to IMF report.Robust non-hydrocarbon growth of more than 4% is expected in 2025, consistent with sound growth in the first half or G1 of 2025 and strong PMI (purchasing managers index) readings.Stressing that the outlook remains favourable; it said growth recovered to 2.4% in 2024, driven by faster non-hydrocarbon expansion at 3.4%.Highlighting twin external and fiscal surpluses to continue, it said the current account remained strong in 2024, posting a surplus exceeding 17% of GDP (gross domestic product).This outcome reflected robust service sector performance and current transfers, which together offset a worsening trade balance.The surplus remained solid in the first quarter of 2025 at 15.6% of GDP and the Qatar Central Bank continues to build foreign reserves ($55bn, 8.1 months of imports, in August), it said, adding the anticipated direct impact of the US tariffs is limited due to the exemption of hydrocarbon exports.“With lower hydrocarbon revenues, the overall fiscal surplus declined to 0.7% of GDP in 2024, although the non-hydrocarbon primary balance improved by 2.4 percentage points," it said.The 2025 budget plans for spending levels comparable to 2024, it said, adding gradual consolidation over the medium term would support a non-hydrocarbon primary balance consistent with intergenerational equity."Provided fiscal prudence is maintained, twin current account and fiscal surpluses are expected to continue over the medium term," the IMF said.The report said continued sound macroeconomic and financial sector policies alongside accelerated structural reforms would further strengthen Qatar’s dynamism and cement its resilience.

Shipping containers pass through the Suez Canal in Suez. Egypt's real gross domestic product grew by 4.5% in the 2024-25 financial year, up from 2.4% the previous year, Finance Minister Ahmed Kouchouk said Saturday, boosted by reforms tied to IMF financing and increased manufacturing activity, reports Reuters.The Arab world's most populous country has come under economic pressure from a currency devaluation in March 2024, high inflation, and the impact of the war in Gaza. Inflation, which peaked at a record 38% in September 2023, has begun to ease but remains high.Urban consumer price inflation fell to 13.9% in July from 14.9% in June. Egypt's fiscal year runs from July to the end of June. In the budget it had predicted GDP growth of 4.2%.Over the last year, the government accelerated economic reforms under an $8bn programme with the International Monetary Fund and secured $24bn in investment from the United Arab Emirates' sovereign wealth fund, including a major land deal on the Mediterranean coast.In a news conference reviewing Egypt's financial results, Kouchouk said the country lost 145bn Egyptian pounds ($2.99bn) in Suez Canal revenues in 2024-25 as a result of disruptions in the Red Sea from attacks by Yemen's Houthi militants on shipping. The previous year, revenues had reached $7.2bn.The minister also said Egypt imported 4.5mn metric tonnes of wheat, costing $1.2bn, down more than 21% from the previous year. Egypt, often the world's largest wheat importer, requires more than 8mn tonnes annually to produce subsidised bread for over 70mn citizens.The government bought just over 3.9mn tonnes locally this year, falling short of its 4mn-5mn tonnes target.