Bessent Defends US Dollar Swap Lines As UAE Considers Formal Funding Request

Bessent Defends US Dollar Swap Lines As UAE Considers Formal Funding Request Several Gulf countries have discussed receiving dollar swap lines from the US, the WSJ reported last week. In the near term, there is an economic drag if volumes of oil and gas sales have fallen by more than the price effect can offset, or where tourist and business travel has dried up. The effect is similar to that of the pandemic: slowing growth and fiscal revenues, and accelerated demand for fiscal spend...