1998 Results Are Threatened By Falling Liquidity
Vulnerability is already in evidence in 1998. With the decline in oilprices, liquidity has contracted. Money supply (M1) fell from OR523.2mn ($1,358.9mn) inJune to OR488.5mn ($1,268.8mn) in August with M2 (domestic liquidity) falling fromOR2,008.7mn ($5,217.4mn) in June to OR1,999.1mn (5,192.5mn) in August. Whereas last yearthere was a surplus of funds being placed in the interbank markets, rendering Omani...