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Development aid: Riyadh no longer spends lavishly

After decades of financial support flowing freely from the petro-monarchy’s treasury coffers, the Saudi kingdom has declared its willingness to condition aid to third countries on economic reforms.

Development aid: Riyadh no longer spends lavishly

Saudi Finance Minister Mohammad al-Jadaan at the World Economic Forum in Davos. (Credit: AFP)

It sounds like a warning. The announcement in Davos by the Saudi finance minister that he wants to make deposits and financial aid to third countries conditional on economic measures is intended to mark a break."We need to see reforms. We tax our...
It sounds like a warning. The announcement in Davos by the Saudi finance minister that he wants to make deposits and financial aid to third countries conditional on economic measures is intended to mark a break."We need to see reforms. We tax our...