NO. 39


Financial and Banking News

Budgets & Revenues

Saudi Arabia's Reserves Plunge

Saudi Arabia's official financial reserves fell to $11,420mn at the end ofMarch 1990, their lowest level since 1973, according to the May edition ofInternational Financial Statistics, published by the International Monetary Fund(IMF). In the year to March 1990 the reserves fell by 42%, with $5,328mn, or 32%being lost in the first quarter of 1990 alone. Surprisingly, however, the IMF...