Fund warns Gulf countries on inflation

Gulf Cooperation Council (GCC) countries with currencies pegged to the greenback will face a tough battle against inflation, the International Monetary Fund said on Monday.

"In oil-exporting countries with currencies pegged to the dollar, it will be a challenge to control inflation as long as there is monetary easing in the US and a weakening dollar especially if the price of imported goods, in particular food, continues to rise," the Fund said in its Regional Economic Outlook for the Middle