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GCC Sovereign Funds: Reversal of Fortune

A CGS Working Paper

Authors: , Senior Fellow and Acting Director of the Maurice R. Greenberg Center for Geoeconomic Studies, and Rachel Ziemba, RGE Monitor

GCC Sovereign Funds: Reversal of Fortune - gcc-sovereign-funds-reversal-of-fortune

Publisher Council on Foreign Relations Press

Release Date January 2009

30 pages


For several years, high oil prices enabled the Gulf Cooperation Council countries to add large sums to their state coffers. Falling oil prices imply that some Gulf countries may need to draw on their depleted funds to cover their import bills. In this Center for Geoeconomic Studies Working Paper, Brad W. Setser and Rachel Ziemba examine the impact of the fall in global equities on the Gulf’s large funds and explore how various oil price scenarios could shape those funds’ future growth.

More About This Publication

Brad W. Setser is fellow for geoeconomics at the Council on Foreign Relations.

Rachel Ziemba is RGE Monitor's lead analyst for oil-exporting economies and China.