The International Monetary Fund Chief Christian Lagrde has said that the economies of the oil-rich gulf nations under the Gulf Cooperation Council, GCC will grow at sustainable but reduced rates. Addressing a press conference in Riyadh after attending the meeting of GCC Finance Ministers, she lauded the role of six nation GCC in keeping the global oil prices under check and the financial reserves. Lagarde told that these moves have contributed to the stability of the global economy. The Saudi Finance Minister Ibrahim al-Assaf said IMF has played a key role in helping the regional economies in the wake of the Arab Spring .Saudi Arabia is one of the largest donors to countries of the region and contributors to the IMF. The GCC consists of Saudi Arabia, Oman, Qatar, Bahrain , Kuwait and United Arab Emirates for close co-operation and economic integration among the member nations.