The past week has brought further evidence that the relationship between Saudi Arabia and the US has soured after OPEC+ opted to cut oil quotas – Saudi Arabia is clearly leaning away from the US orbit. Elsewhere, the US-brokered Lebanon-Israel maritime agreement provided rare good news for Lebanon, but it will take several years before the country sees an economic benefit. And finally, the rationing of FX in Tunisia has exacerbated shortages. The country’s weak balance sheet makes it a leading candidate to follow in Sri Lanka’s footsteps of a messy sovereign default and economic collapse.
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