NO. 24


Financial and Banking News

Budgets & Revenues

Hammadi Says Arab Oil Exporters Lost $996Bn In 1987-92 From Oil PriceErosion

The Arab oil exporting countries have lost a total of $996bn (expressed in1981 dollars) during the period 198792 as a result of the fall in thepurchasing power of oil prices, according to an article by Dr. Sa'dun Hammadi, aformer Iraqi Prime Minister, Oil and Foreign Minister, published in Arabic inthe January/February 1995 issue of the...