NO. 49


Financial and Banking News

Budgets & Revenues

SAMA's Reserves Were $56bn at End 1990, Says IMF

Saudi Arabia's foreign assets totaled around $56bn at the end of 1990, andthen fell to around $46bn as a result of expenditure related to the Gulf War,according to figures prepared by the International Monetary Fund (IMF) in consultation with the Saudi authorities. But less than one third of these reservesare readily available for balance of payments financing, the...