Analyst: Middle East turmoil severely impacts economies dependent on Gulf oil

Golden Ten Data reported on March 12 that economies dependent on the Gulf region are facing considerable uncertainty. Taking Pakistan as an example, the IMF stated that talks have been extended, partly to allow both sides to "more comprehensively assess the impact of recent global developments on Pakistan's economy." Shankar Talreja, an analyst at brokerage firm Topline Securities, noted that since most of Pakistan's oil is imported from Gulf countries, the continued surge in crude oil prices could quickly expand the import bill and exacerbate inflation in this economy, which still relies on IMF financing.