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Economic Divergences between Developing Countries
The Changing World Economic Climate
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$1/barrel extra cost $6 per barrel African annual Arab aid Argentina average balance of payments barrel extra bilateral aid billion borrowing Brazil cartel Chapter cost $1/barrel extra cost OPEC aid crude oil demand developing countries economic Egypt energy Eurocurrency Eurocurrency banks export prices exports to OPEC extra cost $1/barrel extra cost OPEC factors Figure foreign exchange reserves growth rates higher oil prices IBRD imports at $1/barrel India industrial countries industrialisation inflation Iran Iraq Israel Kuwait labour ldcs less Libya manufactures markets ment Middle East Moreover multilateral non-oil ldcs NOPECs OECD oil exporting countries oil imports oil price rises oil production OPEC aid disbursements OPEC countries OPEC members OPEC's output Pakistan payments deficits period petroleum primary commodities Qatar recipient regional relationship remittances Saudi Arabia share shows Source South Korea surplus Table terms of trade Third World trade deficit trend UNCTAD Venezuela Yemen