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Friday, December 4, 1998 Published at 13:56 GMT


World: Middle East

Saudi borrows from Abu Dhabi


Saudi Arabia is reported to have arranged a large loan from Abu Dhabi to help finance its budget deficit caused by falling oil prices.

The London newspaper, Financial Times, says the loan is estimated at five-billion dollars.

It says it is the second time in four months that Saudi Arabia has had to raise extra finance to defend the riyal.

From the newsroom of the BBC World Service



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