Bridging the budget gap
Lower commodity prices have hurt the economies of all of OPEC’s members considerably, with many of them needing to borrow money to bridge the budget gap. Libya, in particular, is expected to need large loans through the rest of the decade, with its borrowing as a percent of GDP reaching 68.15% this year, and an expectation that it will need to borrow 43.35% of its GDP next year as the country deals with both low oil prices and a civil war, according to the IMF. Venezuela is also expected to borrow substantial amounts of...


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