GCC Sovereign Funds

Reversal of Fortune

January 1, 2009

Download PDF
Report

More on:

Fossil Fuels

Banking

Middle East and North Africa

Overview

For several years, high oil prices enabled the Gulf Cooperation Council countries to add large sums to their state coffers. Falling oil prices imply that some Gulf countries may need to draw on their depleted funds to cover their import bills. In this Center for Geoeconomic Studies Working Paper, Brad W. Setser and Rachel Ziemba examine the impact of the fall in global equities on the Gulf’s large funds and explore how various oil price scenarios could shape those funds’ future growth.

More on:

Fossil Fuels

Banking

Middle East and North Africa

Explore More on Fossil Fuels

Climate Change

The Climate Challenge and China's Belt and Road Initiative
BRI's fossil fuel investments will make combatting climate change more difficult. The U.S. needs to offer developing nations an alternative means of acquiring clean energy.

Blog Post by Jennifer Hillman and Alex Tippett March 31, 2021 The Internationalist

Nigeria

Nigerian Lawmakers Consider a Petroleum Investment Bill
Nigerian lawmakers are seeking passage of a Petroleum Industry Bill (PIB) that would reorganize the oil industry. Since the establishment of civilian government in 1999 after a generation of military…

Blog Post by John Campbell March 24, 2021 Africa in Transition

Nigeria

Ransom Payment in the Gulf of Guinea
According to the Nigerian army, a ransom of $300,000 was paid to pirates in the Gulf of Guinea to secure the release of the crew of a Chinese fishing boat. The party that paid the ransom is not repor…

Blog Post by John Campbell March 9, 2021 Africa in Transition

Top Stories on CFR

India

Modi’s Historic, Sobering Elections and His Economic Challenge
The third term win for Indian Prime Minister Narendra Modi was an unsurprising result, but the loss of Parliament seats means his party will need to work with a fragile coalition government to enact polices effectively.

Blog Post by Manjari Chatterjee Miller June 5, 2024 Asia Unbound

United States

Seeking Protection: How the U.S. Asylum Process Works
Record numbers of migrants seeking to cross the southern U.S. border are challenging the Joe Biden administration’s attempts to restore asylum protections. Here’s how the asylum process works.

Backgrounder by Diana Roy June 4, 2024 Renewing America

U.S. Foreign Policy

Washington’s Ill-Fated Mideast Ambitions
U.S. administrations have backed sweeping efforts for societal change in the Middle East in recent decades, with poor results. But Washington can still achieve more modest, essential goals in the region.*

Expert Brief by Steven A. Cook May 31, 2024 Middle East Program