0 a unit of money earned by countries that produce petroleum for sale to other countries:
Petrodollars have maintained Kuwait's wealth.
1 a unit of money earned by countries that produce oil for sale to other countries:
Petrodollars have maintained the country's wealth.
If this is indeed the case, then the strains on the international monetary system imposed by the petrodollar surplus will be easier to handle.
He also said that the petrodollar surplus in 1980 was likely to be $250 billion.
Furthermore, the bulk of petrodollar recycling was carried out largely by means of loans from commercial banks rather than by means of bond issues.
Agreements have been reached on the recycling of petrodollars, and the prospects for world trade and for commodity prices now look somewhat less bleak.
Many proposals have been made for what is now commonly known as recycling the petrodollars, and this is one of them.
But the potential for extending that surplus with the recycling of petrodollars and all of this is far greater than many of us may believe.
The massive load of petrodollar recycling has been shouldered largely by the commercial banks instead of by the development banks.
One must give credit to the commercial banks for the effort they have made in the recycling of petrodollars and other currencies.
