CNNFN writes article about Cheap oil isn’t Saudi Arabia’s only big risk:
by Charles Riley @CRrileyCNN April 12, 2016: 8:29 AM ET
Madeleine Albright: Saudis won’t cut oil production
Madeleine Albright: Saudis won’t cut oil production
When Fitch cut Saudi Arabia’s credit rating on Tuesday, it cited the usual
concerns: low oil prices and a widening government deficit.
That’s not terribly surprising — the world’s largest oil exporter has
endured a slew of downgrades from ratings agencies in recent months.
But the Fitch analysis went beyond oil prices, including warnings tied
to political uncertainty within the kingdom, and rising tensions in its
volatile neighborhood.
The credit ratings agency said that policymaking in the kingdom has
been concentrated in the hands of Prince Mohamed bin Salman, who is the
country’s defense minister and second in line to the throne.
That’s good because it has accelerated decision making. At the same
time, Fitch said it has made policy less predictable.
Earlier this month, the deputy crown prince outlined bold plans to
build a mega $2 trillion investment fund to help wean his country off
its heavy reliance on oil. But Fitch said that it’s not clear whether
the deputy crown prince has built a consensus around his initiatives.
“The degree of support for this accumulation of power from other parts
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