Will King Salman Be Saudi Arabia’s Last Monarch? – OpEd ( Source- Eurasia Review / Author- Alireza Rezakhah)
Image credits- Wikimedia Commons / Leon Panetta Source- Eurasia Review Author- Alireza Rezakhah Zachary Schreiber correctly predicted a drastic fall in global oil prices two years ago and is now issuing warnings over a financial catastrophe in Saudi Arabia. He has recently projected that Saudi Arabia will become bankrupt in terms of its financial structure because the country is facing two threats, that is, very high costs in the face of plummeting oil prices. Schreiber says that Saudi Arabia is undoubtedly suffering from high debts right now. According to his report, Saudi Arabia needs an oil price of over 100 dollars per barrel in order to make the ends meet. Schreiber has also noted that Saudi Arabia’s extravagant social programs are at loggerheads with reducing oil prices. The foreign exchange reserves of Saudi Arabia’s central bank previously stood at about USD 600 billion, but Saudis had totally squandered about USD 140 billion of those reserves between late 2014 an