Oil export receipts in oil exporting countries in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, are projected to decline by more than $270bn in 2020 relative to 2019, says the IMF in its latest "Regional Economic Outlook" (REO) released on 13 July. In comparison, in April, the IMF predicted that these countries were likely to lose more than $230bn in crude revenue this year.