Word: arabia
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Dates: during 1980-1989
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Until then, the signals had been disappointing. Sharing a key role with Saudi Arabia's Prince Bandar bin Sultan, U.S. Envoy McFarlane helped to prepare a draft proposal that called for an end to hostilities, to be followed by a conference of all Lebanese factions. At such a meeting, the Druze, the Shi'ite Muslims and other groups would be able to press the Maronite Christians for a greater share of political power. Two weeks ago, the Syrians demanded that as part of the cease-fire agreement, the Lebanese government had to withdraw its army from the Chouf and promise...
Back and forth went Special Envoy McFarlane, and back and forth to Saudi Arabia went Prince Bandar. On Bandar's only visit to Beirut, the people of the city, who were desperately eager for the fighting to end, were greatly encouraged. When he left, they again became despondent. Assad remained obdurate, and according to some diplomats, Gemayel too seemed less than eager to end hostilities. Each leader apparently thought he could still strengthen his bargaining position by making military gains on the ground...
...billion. Some 3,000 Soviet advisers are assigned to the Syrian army, and an additional 5,000 Soviet soldiers and technicians maintain the new missile batteries and communication posts. If Syria is able to afford such costly weaponry, it is in part thanks to the generosity of Saudi Arabia and the gulf oil states, which subsidize the country to the tune of $1.2 billion a year. Says a U.S. analyst in Washington: "What other leader has managed to hamstring Arafat, persuade Israel to leave him alone, keep collecting checks from the Saudis, make the U.S. come begging, and convince...
...demand and oil prices have slipped, however, so have Saudi oil revenues. The best estimate for the fiscal year that ends next March is $65 billion. For the first time in 20 years, Saudi Arabia will have a budget deficit, estimated at about $10 billion...
Even so, most countries would be glad to have Saudi Arabia's troubles. The Saudis still have an estimated $150 billion in monetary reserves invested abroad. Many Saudi officials, moreover, consider the slump a blessing of sorts, for it allows the country a chance to pause. Says a U.S. banker in the capital city of Riyadh: "The Saudis are not going to run out of money. But they are going to watch what they spend and begin setting priorities...