Saudi Arabia’s IOUs

Source: ftalphaville.ft.com --- Wednesday, May 18, 2016
Something of significant note just occurred in the global oil hierarchy. According to a Bloomberg report filed on Wednesday afternoon (UK time), saudiarabia may be considering paying some outstanding bills to contractors using government-issued bonds. Contractors, they added, would be able to hold bond-like instruments until maturity. This is quite something, not least because paying your contractors with short-term bonds is not entirely dissimilar to paying them with IOUs. Continue reading: saudiarabia’s IOUs ...