Financial and Banking News
BUDGETS AND REVENUES
Syria Faces Payments Crunch as Oil Revenue Drops
The recent decline in the price of oil is likely to strain the Syrian economy, which depends upon oil revenues for more than half of its export earnings. Even before the impact of lower prices was felt, the Syrian government had taken urgent steps to shore up the country's dwindling foreign exchange reserves by imposing tough controls on the pervasive `free market' for hard...