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21%  
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Keyword: gulfnations

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  • $500 Billion In Lost Oil Revenues Forces Gulf Nations To Turn To Debt Markets

    04/28/2016 2:24:51 PM PDT · by bananaman22 · 9 replies
    The International Monetary Fund (IMF) has projected a whopping $500 billion loss in revenue for the Gulf nations in 2016, which is 30 percent more than the $390 billion lost in 2015. The massive shortfall has crippled the gulf economies, which are facing record budget deficits and seeking external funding to overcome it. Many experts believe that $100 per barrel oil prices are history, and we might not revisit those prices for more than a decade. It implies that the recent crisis will not end as quickly as the downturn in 2007-2009. The oil-dependent nations will have to figure out...