Chart of the Day: Vienna! This Means Nothing To Me

Economist

Richard Iley

Macroeconomics

<div class="content-highlight"><p><strong>The IMF's latest fiscal breakeven oil price estimates for the Middle East show Bahrain is a clear outlier. Next year's breakeven price is seen as close to USD100 per barrel; worse even than Libya. With its FX reserves slipping away and barely worth 1 month of import cover, trouble is brewing. Despite a recent USD 3bn bond issue, Bahrain still faces a fiscal hole next year and is now reportedly asking for a bailout from its closest neighbourhood friends - Saudi Arabia and the UAE. If help is not</strong>…</p></div>

The IMF's latest fiscal breakeven oil price estimates for the Middle East show Bahrain is a clear outlier. Next year's breakeven price is seen as close to USD100 per barrel; worse even than Libya. With its FX reserves slipping away and barely worth 1 month of import cover, trouble is brewing. Despite a recent USD 3bn bond issue, Bahrain still faces a fiscal hole next year and is now reportedly asking for a bailout from its closest neighbourhood friends - Saudi Arabia and the UAE. If help is not…

Chart of the Day - The Canary In The (GCC) Coalmine?