| Oil-producing countries will sell $240 billion of international assets this year, mostly stocks and bonds, in an attempt to hold together budgets blown apart by the slump in oil prices, according to estimates from JP Morgan.
That sum will come from running down their foreign exchange reserves and Sovereign Wealth Fund holdings. They will also raise some $20 billion by selling government bonds of their own to help cover a current account shortfall of $260 billion, the US bank predicts...............................................Full Article: Source
|