04.04.2016 - Gulf nations left to raid reserves
Earlier this year, a sleepy, little-watched, financial gauge sprang to life. The moribund forwards market for the Saudi riyal suddenly started pricing in speculation that the world’s largest oil producer could be forced to abandon its 30-year peg to the US dollar. Kuwait, Qatar and the United Arab Emirates have sufficient sovereign wealth fund assets and central bank reserves to maintain spending at current levels for decades with oil at $50 or even $30, according to Bank of America. However, Oman and Bahrain would run out of money in two or three years, although they could potentially extend this by issuing debt...............................................Full Article: Source
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