Jefferies International chief economist, Alia Moubayed, expected in an interview with Al Arabiya that most Gulf countries would less need to knock on the doors of international financial markets, He attributed this expectation to rising oil prices.
Moubayed suggested that the Sultanate of Oman would be the first country to start launching debt instruments for the year in course, then comes Bahrain for financing needs, while there remains the opportunity for some countries, including Saudi Arabia, the United Arab Emirates and Qatar, to seize financing opportunities from the bond and sukuk markets.
Moubayed looked at estimates of expected data for Gulf debt issuance, worth $ 7 billion in Saudi Arabia, $ 5 billion in the Emirates and a similar number in Qatar, 2.5 billion Omani riyals in the Sultanate of Oman, and about two billion dollars in Bahrain.
He indicated that Oman will be one of the first Gulf countries to knock on financial markets in the coming weeks with the significant improvement in the level of budget cuts and financial reforms and the increase in reserves in the Central Bank of Oman from 15 billion Omani riyals to 19.5 billion riyals last December.
Regarding the issuance of the Gulf institutions, Moubayed said that these institutions must have an assessment of the performance institutional, which improves their classification, and therefore resorting to debt issuances to obtain investment financing.
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