Saudi Central Bank Faces Biggest Shakeup in 70 Years as Crown Prince Seeks to Cut Dependence on Oil

Riyadh replaced its central bank governor last month and announced plans to dramatically increase size of the oil sheikdom’s sovereign wealth fund by 2030 as part of a push for economic diversification away from dependence on black gold, which accounts for over 80 percent of the country’s export earnings.

Saudi Central Bank Faces Biggest Shakeup in 70 Years as Crown Prince Seeks to Cut Dependence on Oil
Riyadh replaced its central bank governor last month and announced plans to dramatically increase size of the oil sheikdom’s sovereign wealth fund by 2030 as part of a push for economic diversification away from dependence on black gold, which accounts for over 80 percent of the country’s export earnings.