The Institute of International Finance (IIF) launched during a press conference held at Byblos Bank Headquarters in Ashrafieh, its first economic report on the Arab world, which provided 2011 and 2012 forecasts and analysis for the Gulf Cooperation Council (GCC), non-GCC oil exporters, and oil importers in the region. The Washington, D.C.-based IIF is the leading global association of financial services firms with more than 430 member institutions.