Facts, News, Trends, Analysis
While on a visit in Saudi Arabia earlier this month, Gordon Brown, British Prime Minister, suggested that Saudi Arabia should contribute extra money to the IMF fund. Supporting his statement, he said Saudi Arabia is the world’s largest oil exporter and should help create funds to lend a hand in emerging markets and to prevent [...]
Pakistani President Asif Ali Zadari visited Saudi Arabia in early November to request funds for the Pakistani economy that is in currently in desperate need. Pakistan has many trade and budget deficits that Zadari hopes Saudi Arabia will assist with, considering their past relationships. According to BBC, despite two years of deferred oil payments, Zadari [...]
In Washington D.C., Turkey met recently with the International Monetary Fund, to which it owes millions in loans. The country has been hit severely by the economic crisis and its currency’s value is rapidly declining. A deal has been worked out concerning its debt and future loans, although the details of the agreement are still [...]
A recent study conducted by the IMF, shows that Saudi Arabia will need the oil price to stay above $49 a barrel to avoid a fiscal deficit. That compared to UAE’s break-even price of just $23 and Qatar’s $24. Saudi Arabia is the Gulf region’s largest economy. However, a significant portion of its GDP is [...]
