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Wednesday, 11 January 2017

Saudi capital flight ‘overshadowing’ reform efforts – BAML

Saudi capital flight ‘overshadowing’ reform efforts – BAML:
"Capital outflows continue to “overshadow” efforts at economic reform in Saudi Arabia, according to analysis from Bank of America Merrill Lynch.

Recent data on Saudi Arabia’s balance of payments suggest financial outflows accelerated compared to the same period last year, when adjusting for the issue of a $10bn syndicated loan.

Outflows put further pressure on the riyal, which is pegged to the US dollar but has come under pressure from investors betting that the kingdom will be forced to revalue it."

'via Blog this'