Fed Cushions Oil Shock with Money Already in the Pipeline
The federal government is cushioning the Middle East energy shock with World Bank money it already has, redirecting up to 543 million dollars from existing development projects. The money is meant to ease domestic fuel supply disruptions and keep essential imports flowing. The World Bank says the country is not seeking fresh emergency credit. At the October 27 auction rate of 159.70 Br a dollar, the sum is worth about 86.7 billion Br. The federal government is cushioning the Middle East energy shock with World Bank money it already has. It is redirectin... Charged with transforming colossal state-owned enterprises into modern and competitiv...