The Debt Crisis Is Mounting For Oil Economies

September 25, 2020/in /by Rudolf Huber

Those countries have never learned to live with what they can generate themselves. Imagine you are a rock in the sea without natural resources. How would you make money? Hongkong became one of the richest places on Earth before the China takeover and they don’t even have fresh water. Countries like the Congo have it all and they can’t escape the poverty clutches – or so it seems. What’s wrong is that if you never learn to run anything properly, you will fall flat on your face when the gift from God loses its luster. Still rich Gulf countries will fall back and some now illustrious places will be the backwaters they were once again.

The Debt Crisis Is Mounting For Oil Economies | OilPrice.com

Oil nations are taking on debt at a rapid pace, and without much hope of a near-term recovery in oil prices, these countries may face a structural problem

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