It used to be the oil-rich gulf

February 1994
U.S. News & World Report;2/14/94, Vol. 116 Issue 6, p8
Reports that in the 1980s, the Persian Gulf states ranked as major lenders of capital. In the 1990s, if the price of oil stays low and their spending habits high, they could become world-class deadbeats. Examples of how Iran and Saudi Arabia are in financial binds.


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