Financial and Banking News
Morgan Guaranty Estimates OPEC Deficit at $l0bn in 1984
The Morgan Guaranty Trust Company of New York has published estimates of the OPEC members' aggregate current account which suggest that in 1984 their overall deficit narrowed from $27bn to $10bn. According to the bank's estimates, Saudi Arabia alone had a $13bn deficit in 1984, while Kuwait, Qatar and the UAE together recorded a $11bn surplus. The bank notes that OPEC faces...