Oil price crash: Saudis told to embrace austerity as debt defaults loom – Telegraph.co.uk


Telegraph.co.uk
Oil price crash: Saudis told to embrace austerity as debt defaults loom
Telegraph.co.uk
During the world’s last major oil price crash in 1986, 17 out of 25 of the developing world’s major oil producers defaulted on their debts, according to research from Oxford Economics. Debt mountains in producer nations ballooned by 40pc of GDP on average.

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