Don961: The Baghdad Post @BaghdadPostPlus #BREAKING: #USsanctions may hit the Central Bank of Iraq on the suspicion of backing militias in #Iraq, #Syria, #Lebanon and #Iran: Reports #BaghdadPost #MiddleEast
Tommy17: Imo This might be how they’ve force the cbi to stop the auctions.
Don961: International Monetary Fund: Arab Gulf states may find themselves bankrupt after 15 years
Politics 02/20/2020 13:24 275
Baghdad today – follow up
A pessimistic report prepared by the International Monetary Fund saw that the Arab Gulf states may find their financial wealth drained after 15 years, if they do not intensify their financial reforms.
The International Monetary Fund attributed the pessimistic conclusion to “declining oil and gas revenues.”
It is noteworthy that the oil production of the six Gulf Cooperation Council countries, represents more than one fifth of the global supply, with an estimated net financial wealth of $ 2 trillion.
The economies of the Gulf states were also severely affected by the decline in oil prices in 2014 and 2015.
In its report, the International Monetary Fund believes that although the drop in crude oil prices has put pressure on governments to obtain non-oil revenues, in addition to financial reforms, the “impact of lower oil and gas revenues has not been fully compensated.”
In its report, the International Monetary Fund concluded that “in the current financial situation, the current financial wealth in the region can be drained over the next 15 years.”
This Washington-based World Bank also felt that global oil demand could peak by 2040 or much earlier if there is a stronger regulatory push to protect the environment and energy efficiency. link