Send a Tweet
Most Popular Choices
Poll Analyses
Share on Facebook 1 Share on Twitter Printer Friendly Page More Sharing
General News    H3'ed 10/29/15

Saudi Arabia Could Go Bankrupt Within Five Years - IMF

Author 1398
Follow Me on Twitter     Message Natylie Baldwin
Become a Fan
  (24 fans)

Dust storm in Saudi Arabia
Dust storm in Saudi Arabia
(Image by NASA Goddard Photo and Video)
  Details   DMCA

Saudi Arabia’s cash reserves are in free-fall and the country could have only five years of financial assets remaining due in large part to the fall in oil prices, according to a report by the International Monetary Fund (IMF).  In its World Economic and Financial Surveys, released every October, the IMF said that the kingdom will suffer a negative 21.6 per cent “General Government Overall Fiscal Balance” in 2015 and a 19.4 per cent negative balance in 2016, a massive increase from only -3.4 per cent in 2014.  Saudi Arabia currently has $654.5 billion in foreign reserves, but the cash is disappearing quickly.

Read the rest of the story HERE:

At www.independent.co.uk

 

Must Read 1   News 1   Valuable 1  
Rate It | View Ratings

Natylie Baldwin Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Natylie Baldwin is author of The View from Moscow: Understanding Russia and U.S.-Russia Relations available in e-book and print. She has traveled throughout western Russia since 2015 and has written several articles based on her conversations and interviews with a cross-section of Russians. She blogs at  (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

To View Comments or Join the Conversation: