Skip to main content

Oman's Strategic Step: Setting Up EWS to Predict Financial and Economic Crises


 

**Title: Oman's Strategic Step: Setting Up EWS to Predict Financial and Economic Crises**


Oman is embarking on a visionary endeavor in partnership with the Korea Development Institute (KDI) to establish an Early Warning System (EWS) aimed at predicting and preparing for financial and economic crises. The EWS project, a collaboration between Oman's Tawazun program and KDI, holds immense promise in fortifying the country's financial resilience. The proactive measures to be undertaken through this system are expected to mitigate the adverse effects of potential crises on Oman's financial landscape.

The recently introduced Early Warning System (EWS) is a critical stride towards securing Oman's economic stability. Driven by Oman's Tawazun program, which focuses on achieving fiscal balance amid oil price fluctuations, and bolstered by the expertise of KDI, the EWS aims to evaluate risks and uncertainties. By assessing key indicators such as debt levels, inflation rates, stock market volatility, and more, the system will generate timely signals that indicate the likelihood of a financial crisis within a specific timeframe. This valuable insight will empower the Omani government to take timely and effective actions, minimizing the impact on the financial system.

READ MORE: Oman To Set Up An EWS To Predict Financial, Economic Crises

A pivotal moment in the EWS project was marked by a simulation of the forecasting model during a crucial meeting. Spearheaded by Dr. Woong Seob Zhin, a distinguished figure with a robust background in financial supervision, the model showcased the system's potential to anticipate financial crises. While an EWS cannot eliminate the uncertainty of financial crises, it equips policymakers with invaluable tools to anticipate challenges and devise strategies to mitigate their impact. The EWS initiative resonates with Oman's commitment to prudent economic planning and positions the nation as a proactive player in safeguarding its financial future.

Comments

Post a Comment

Popular posts from this blog

Exposing the Brotherhood: Why Jordan’s Terror Cell Bust Must Spark a Global Policy Shift

 The recent dismantling of a Muslim Brotherhood-affiliated terror cell in Jordan should not be seen as just a national security success—it must be a turning point in how the international community views and responds to the threat posed by the Brotherhood. Jordanian security forces uncovered an elaborate network of terrorists trained in Lebanon and backed by foreign interests. Their mission: to launch attacks using rockets and drones, destabilizing the Kingdom and spreading fear among civilians. This is not the work of activists or political dissidents—this is terrorism, plain and simple. For too long, the Muslim Brotherhood has operated under a false image of moderation, cleverly navigating between political activism and violent extremism. But the truth is clear: the Brotherhood is the ideological engine room of jihadist terrorism. Its members, affiliates, and offshoots have inspired and directed acts of violence from North Africa to the Gulf—and now, once again, in Jordan. Govern...
Post a Comment
Read more

UAE Introduces AI-Driven Drones for Crescent Moon Sighting

  For the first time in history, the UAE is employing artificial intelligence-powered drones to sight the crescent moon, signaling the start of Ramadan. This modernized approach blends technology with Islamic tradition, enhancing the reliability of moon sighting methods. Historically, the crescent moon has been identified through naked-eye sightings and advanced astronomical calculations. By incorporating AI-supported drones, the UAE is reinforcing its position as a leader in technological innovation while maintaining deep respect for religious customs. This method is backed by national research centers and astronomical observatories, ensuring precision and credibility in determining the start of Ramadan. Ramadan is a sacred month in Islam, marked by fasting from dawn to dusk. Suhoor, the early morning meal, and Iftar, the evening meal that breaks the fast, hold great importance during this period. The holy month is also a time of increased charitable giving, with many Muslims part...
Post a Comment
Read more

UK Business Migration to the UAE: An Economic Transformation Set to Triple by 2035

  A significant realignment is underway in the global business landscape. The corridor between the United Kingdom and the United Arab Emirates is experiencing a dramatic surge in traffic, not of tourists, but of companies, entrepreneurs, and capital. Projections indicate that the number of UK businesses operating in the UAE is on a trajectory to triple by the year 2035. This is not a fleeting trend but a strategic migration fueled by a powerful combination of economic foresight and pragmatic policy. For UK businesses, the appeal is clear and compelling. The UAE offers a starkly contrasting environment to the complexities of the European market post-Brexit. The cornerstone of this appeal is a favourable tax regime, featuring zero percent income tax and a competitive corporate tax structure. This financial efficiency is coupled with groundbreaking reforms that allow for one hundred percent foreign ownership of mainland companies, giving investors full control over their ventures. The...
Post a Comment
Read more