World Bank: Financial Markets in a New Age of Oil

January 1, 2006

The World Bank released a report on what countries in the Middle East are planning to do with revenue streams, steming from the oil boom in the 1970's and 1980's: Oil producers are using revenue to pay down debt, build up substantial savings, and set up oil stabilization funds. However, the report notes that this windfall has not translated to some of the more resource-poor economies in the area, such as Lebanon and Morocco.

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