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Gulf states risk deficit as oil price falls: IMF head | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.
"Benefiting from high oil prices for more than a decade, the GCC states have built fiscal reserves estimated at $2.45 trillion by the International Institute of Finance."

holy shit.
economics  government 
5 hours ago
Royals Flush?
"For Gulf countries as a whole, the IMF said, lower oil prices could wipe $175 billion off their projected fiscal surpluses.

That would put additional pressure on those countries to overhaul their unsustainable budgets, which use energy subsidies that encourage waste and which cost governments billions of dollars each year. In Kuwait, fuel at the pump cost just $0.19 a liter before recent reforms..."
kuwait  saudiarabia  egypt  oil  economics 
5 hours ago
Why Is It Illegal to Not Vote in Most of Latin America? - The Atlantic
"Ruling parties in Western European and Latin American countries, the authors write, faced the rise of unions and workers’ parties as their countries industrialized during the late 1800s and early 1900s, when many of them implemented their compulsory voting laws. “During this period, the Left’s organizational ability to mobilize—and, in particular, turn out—its potential voters was increasingly perceived as being unmatched by other parties,” they write. Ruling parties, according to this theory, were essentially trying to get out the vote for a silent majority of what one Argentine official called “the rich and content” to protect their incumbency from the growing power of the leftist opposition.

Brazil, Ecuador, Paraguay, Uruguay, and Peru all passed compulsory voting laws in the 1930s. Each later went through a period of military dictatorship between the 1950s and the 1980s. When democracy returned, so did the requirement to vote."
history  voting 
2 days ago
The Sweethome
like the wirecutter, but for other stuff
shopping 
7 days ago
BBC News - Bank of England says keep interest rates low for now
bank says it should still remains super easy for it to keep making arseloads of money
banking  economics  dumb 
12 days ago
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