Financial and Banking News


BIS Sees Lower Deficit for Mideastern OPEC

The aggregate current account deficit of the Middle Eastern OPEC states was reduced by some $5.5bn during 1985, according to the annual report of the Basle-based Bank for International Settlements (BIS). During 1984, the BIS reported that their aggregate deficit grew by $0.5bn. The improvement was due mainly to Saudi Arabia, which, according to the BIS, cut its current account deficit by $4bn from...