IMF says Saudi economy resilient in face of Middle East war

RIYADH - The International Monetary Fund on July 29 said the economy of Saudi Arabia, the world’s largest oil exporter, has been resilient in the Middle East war, but cautioned against the impact of future uncertainty.Despite the war that erupted in February with US and Israeli strikes on Iran, and the retaliatory attacks on Saudi and its neighbours, the IMF said the Gulf kingdom’s economy showed “agility and resilience”.In the concluding statement of its “Article IV” consultation, the institution’s economists hailed “Saudi Arabia’s strong macroeconomic fundamentals and diversified oil and logistics infrastructure”.During the war, US and Iran have vied for control of the Hormuz Strait, a key waterway for the export of oil and gas, leading to a near halt in shipping that the IMF said has “d