NO. 32


Financial and Banking News

Budgets & Revenues

Allied Contributions to the US War Effort Total $53.7bn

The US has received $53.7bn in cash and services from its allies in the Gulfwar, the US Defense Department said on 5 May. This leaves $7.3bn to be borne bythe US itself. The biggest single contribution was $16.8bn, by Saudi Arabia,followed by $16bn from Kuwait, $10bn from Japan, $6.5bn from Germany, $4.1bnfrom the UAE and $251mn from South Korea. A further $29mn...