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IMF Chief Urges Gulf Reforms Amid Low Oil Prices

On a trip through a Gulf squeezed by low oil prices, the head of the International Monetary Fund repeatedly called on countries to cut back on subsidies, lower government spending and consider levying taxes. But implementing Christine Lagarde's suggestions is easier said than done in the oil-rich countries, even as crude prices have dropped by over 50 percent since last year. Generations have grown used to cradle-to-grave social programs, comfortable government jobs and tax-free...

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