| Plunging oil prices could prompt Gulf Arab sovereign wealth funds to pull tens of billions of dollars out of global markets this year, with much of the money expected to come out of U.S. dollar debt and deposits with banks abroad.
For over a decade, the funds of the six-nation Gulf Cooperation Council (GCC) have been big players in the securities markets of the developed world. They have grown rapidly; including the foreign assets of Saudi Arabia's central bank, the GCC's sovereign funds now total about $2.43 trillion, according to the International Monetary Fund. Most of that is invested overseas...............................................Full Article: Source
|