Arab Gulf States Institute in Washington – Building bridges of understanding

Kuwait’s Cabinet approves a fiscal stimulus package that contains measures to provide liquidity for small- and medium-sized enterprises and directives for local banks to postpone select loan repayments for a 3-month period.

March 31, 2020

The Saudi Arabian Monetary Authority directs banks to waive fees and other charges for debt refinancing services.

March 29, 2020

The UAE government increases the size of its stimulus package by $4.4 billion to $34 billion, as part of efforts to offset the economic impact of the coronavirus.

March 23, 2020

Sharjah lists a $200 million sukuk on Nasdaq Dubai.

March 22, 2020

The Central Bank of Oman announces a $20.8 billion economic incentive package to offset the impact of the coronavirus and directs financial institutions in the country to allow a six-month delay in loan repayments.

March 18, 2020

The Central Bank of Bahrain announces that banks, financing, and microfinancing companies must offer 6-month deferrals on installments from borrowers impacted by the coronavirus outbreak.

March 17, 2020

Qatar reveals a $20.5 billion spending package to help stimulate the country’s private sector.

March 15, 2020

Saudi Arabia announces $13.3 billion in spending to support small and medium-sized enterprises in its private sector.

March 15, 2020

The UAE Central Bank launches a $27.22 billion stimulus package, which includes zero-cost collateralized loans for all banks operating in the UAE.

March 14, 2020

Saudi Arabia’s state-owned mortgage refinancing firm plans to buy more than $6.1 billion of mortgage portfolios from banks in 2020, as part of efforts to raise home ownership.

March 5, 2020

The UAE pledges to invest $2 billion in Mauritania through development projects and a soft loan.

February 3, 2020

Saudi Arabia begins its first dollar-denominated bond issuance of 2020, which includes the kingdom’s first 35-year bond.

January 21, 2020

The Abu Dhabi Department of Energy announces the creation of a Green Bond Accelerator as part of an initiative to establish the emirate as a regional hub for the issuance of green bonds and sukuks.

January 15, 2020

The Saudi Arabian Monetary Authority establishes a minimum capital requirement of $5.3 million for local microfinance companies, which will provide loans limited to $13,000 or less.

December 10, 2019

Ma’aden, a mining company half-owned by the Saudi government, will seek to raise $5 billion in 2020 to refinance the Waad Al Shamaal phosphate mining project.

December 5, 2019

Abu Dhabi Crown Prince Mohammed bin Zayed al-Nahyan orders $1.8 billion to be allocated toward housing assistance in the form of loans, houses, and land for Emiratis within Abu Dhabi.

November 26, 2019

Fitch Ratings downgrades Saudi Aramco’s Long-Term Issuer Default Rating, citing state influence over the company through strategic direction, dividends, and taxation.

October 8, 2019

DP World, in which Dubai’s government is the majority owner, receives more than $2.9 billion in orders for its issuance of dollar-denominated sukuk and conventional notes.

September 25, 2019

Bahrain raises $2 billion from a combined sale of dollar-denominated sukuk and conventional bonds.

September 25, 2019

Abu Dhabi plans to sell benchmark-sized, dollar-denominated bonds in the emirate’s first issuance in 2 years, attracting more than $19 billion in bids from investors.

September 23, 2019

Saudi Arabia raises $2.355 billion in sukuk issuances that were divided into 3 tranches.

September 17, 2019

Oman hires banks to coordinate the issuance of its first dollar-denominated bond of 2019.

July 24, 2019

DP World hires three international banks to manage the issuance of a 10-year, dollar-denominated sukuk.

July 10, 2019

Saudi Arabia becomes the first Gulf state to enter the euro debt market after raising 3 billion euros worth of international bonds.

July 3, 2019

Qatar purchases U.S. dollar-denominated bonds from Lebanon as part of a plan to invest $500 million in the Lebanese economy.

July 1, 2019

Bahrain drops plans to reform its subsidy system while announcing the possibility of a new bond sale

May 8, 2019

State-run Saudi Telecom issues $1.25 billion in dollar-denominated sukuk on the Irish Stock Exchange.

May 5, 2019

Saudi Arabia’s Public Investment Fund expects to raise up to $13.73 billion in dollar- and riyal-denominated debt over 2019.

May 1, 2019

Oman prepares for a U.S. dollar-denominated bond issuance as part of government efforts to raise around $6.2 billion of debt to cover most of this year’s expected budget deficit.

April 30, 2019

Saudi Arabia’s issuance of a riyal-denominated sukuk with a 30-year maturity attracts a reported demand of around $2.47 billion

April 25, 2019

Saudi Real Estate Refinance Company, a subsidiary of the Public Investment Fund, plans to issue up to $1.07 billion of long-term sukuk in 2019.

April 23, 2019

Fitch Ratings reaffirms Kuwait’s long-term foreign currency issuer default rating at AA with a stable outlook.

April 11, 2019

The demand for Saudi Aramco’s debut international bond sale exceeds $100 billion and is set to become the largest-ever bond sale in emerging markets.

April 9, 2019

Saudi Aramco receives more than $40 billion in orders for its bond debut, reflecting strong investor interest in the oil company.

April 8, 2019

The UAE launches a debt relief program for citizens as the country’s non-oil economy struggles to cope with over 4 years of lower crude oil prices.

March 17, 2019

Qatar taps the dollar-bond market with a debt sale that is split into 3 tranches and has generated more than $35 billion in bids.

March 6, 2019

The Kuwait Petroleum Corp signs an agreement with the British government for up to $3 billion in loans and credit facilities related to exports of British goods and services.

March 4, 2019

The global credit rating agency Fitch affirms Bahrain's long-term foreign-currency issuer default rating at BB- with a stable outlook.

February 28, 2019

Kuwait and China discuss the creation of a $10 billion Kuwait-China Silk Road Fund to invest in Kuwaiti development projects associated with Silk City and the country’s northern islands.

February 28, 2019

Oman plans to cut its borrowing requirements by up to 70 percent in 2019 and rely on asset sales to plug a budget deficit expected to reach 9 percent of GDP.

February 21, 2019

Bahraini bonds yielded average returns of around 5 percent – outperforming those issued by other GCC states – since Bahrain received a $10 billion bailout in October 2018.

February 19, 2019

Oman Aviation Group is seeking an advisor for debt financing of $5 billion as the country increasingly relies on borrowing to offset its budget deficit.

February 4, 2019

Dubai Investments Park postpones a 5-year sukuk sale as a property price slide puts pressure on existing bonds.

January 30, 2019

The Kuwait Fund for Arab Economic Development approves $1 billion in loans to Egypt over three years.

January 28, 2019

Qatar plans to purchase $500 million of Lebanese government bonds.

January 21, 2019

Saudi Arabia, Kuwait, the UAE, Bahrain, and Qatar prepare to join JPMorgan Chase & Co.’s $119 billion emerging market bond indexes.

January 17, 2019

Saudi Aramco plans to issue an international bond in the second quarter to finance the acquisition of petrochemical giant SABIC.

January 10, 2019

Saudi Arabia raises $7.5 billion in bonds due in 2029 and 2050.

January 10, 2019

Saudi Arabia’s second-largest industrial group, Tasnee, secures a $532.4 million credit facility from Banque Saudi Fransi to refinance an existing sukuk.

January 3, 2019

The Saudi Real Estate Refinance Company creates a $2.93 billion Islamic bond program to boost liquidity in Saudi Arabia’s mortgage market.

December 27, 2018

Sharjah’s government invests approximately $517.32 million in Invest Bank, a bank struggling to cope with high levels of bad loans and exposure to the UAE’s real estate and construction markets.

December 26, 2018

Saudi Arabia plans to issue $32 billion of bonds in 2019 to finance a budget deficit expected to reach $34.9 billion, or 4.2 percent of GDP.

December 19, 2018

Global credit rating agency Fitch downgraded Oman’s rating to BB+ from BBB-, citing fiscal challenges related to volatile crude prices.

December 18, 2018

The UAE's central bank lifts a 20 percent cap on real estate lending as a percentage of total deposits of banks.

November 19, 2018

SABIC signs an MoU with National Commercial Bank to provide loans at preferential rates to small- and medium-sized businesses.

November 19, 2018

Global credit rating agency Standard & Poor's affirms Oman's rating at BB/B with a stable outlook.

November 12, 2018

Oman Gas, a state-owned natural gas logistics company, signs an agreement to raise money from 7 domestic and international banks.

November 5, 2018

Oman's Duqm Refinery, a joint-venture project between Oman Oil and Kuwait Petroleum International, announces a $4.61 billion sharia-compliant project financing agreement with 29 financial institutions.

November 3, 2018

Dubai Aerospace Enterprise raises $1 billion in bonds, despite targeting $1.25 billion.

November 2, 2018

Abu Dhabi's state-owned investment company Mubadala issues 10-year U.S. dollar-denominated bond.

October 31, 2018

Oman issues U.S. dollar-denominated sukuk.

October 24, 2018

Nogaholding, the investment arm of Bahrain's national oil and gas company, hires domestic and international banks to manage issuance of 6- and 10-year U.S. dollar-denominated bonds.

October 24, 2018

The UAE issues a law permitting the federal government to issue sovereign debt to lay the foundation for a domestic dirham-denominated bond market and allow the country's smaller emirates to issue federal bonds that carry a higher credit rating.

October 13, 2018

Oman is expected to issue a new dollar-denominated sukuk this week to help cover its budget deficit. Oman issued a $6.5 billion conventional bond in January.

October 8, 2018

Oman Oil, a state-owned energy company, plans to raise an $850 million revolving credit facility from 10 banks over the next few weeks.

October 1, 2018

The Saudi Electricity Company is set to issue a 5- and 10-year dollar-denominated sukuk.

September 20, 2018

Dubai's international ports and logistics operator DP World will issue more than $3.3 billion in dollar- and euro-denominated bonds, comprised of conventional bonds and sukuks.

September 19, 2018

Saudi Arabia's Public Investment Fund has taken out an $11 billion international syndicated loan, the first of its kind for the fund.

September 17, 2018

Saudi Arabia issued a U.S.-denominated sukuk, raising $2 billion to reduce its budget deficit and completing its external funding requirement for the year. The bond issue follows a 2017 international sukuk, the first of its kind for Saudi Arabia, that raised $9 billion.

September 12, 2018

Dubai's state-owned port and logistics firm DP World is planning a 10-year benchmark dollar sukuk offering, hiring a number of domestic and international banks as bookrunners for the Islamic bond.

September 10, 2018

Saudi Arabia's government-owned refinance firm plans to issue Islamic bonds to fund its mortgage drive, based on selling sharia-compliant mortgage-backed securities. The scheme is backed by the kingdom's largest sovereign wealth fund, the Public Investment Fund.

August 14, 2018

Oman is seeking to finance its Duqm project with multilateral funding sources.

July 30, 2018

The Saudi government issues 3.465 billion Saudi Arabian riyals ($924 million) as sukuks in three tranches via five domestic banks.

July 26, 2018

Saudi Arabia raises $1.33 billion in domestic sukuk, divided into three tranches: $1.04 billion in 5-year, $205.48 million in 7-year, and $123.29 million in 10-year.

April 23, 2018

Qatar is expected to raise $12 billion in a triple-tranche bond offering.

April 12, 2018

Qatar raises $12 billion in dollar-bond sale in three tranches: $3 billion in 5-year notes at T+ 135 bps, $3 billion in 10-yr bonds at T+ 170 bps, and $6 billion in 30-year securities at T+ 205 bps.

April 12, 2018

Market Watch: Trade Wars and Bond-Offs: Side Effects of Tariffs and Tactical Borrowing Hit the Gulf

by Karen E. Young There are simultaneous efforts by Qatar and Saudi Arabia to attract investors for new bond issues this week. The “bond-off,” or race to sale, is yet a new example of the use of economic means to achieve political ends.

April 11, 2018

Saudi Arabia raises $11 billion in dollar bond sale in three tranches: $4.5 billion at 4 percent in 7-year bonds at T+ 140, $3 billion at 4.5 percent in 12-year notes at T+ 175, and $3.5 billion at 5 percent in 31-year debt at T+ 210.

April 10, 2018

Saudi Arabia and Qatar both seek investors for new international bond issue for 2018.

April 10, 2018

Qatar’s central bank head says plans to issue roughly $13 billion in bonds in 2018 matches 2017 issuance.

April 4, 2018

Saudi Arabian regulator approves exchange of domestic currency government bonds on local stock exchange, signaling development of local debt market.

April 1, 2018

Bahrain issues a $1 billion sukuk, changing its plans to also issue a sovereign bond.

March 28, 2018

Market Watch: U.S.-Saudi Economic Ties: Why Saudi Arabia Matters

by Karen E. Young

Saudi Arabia and the United States are linked by investment ties, energy markets, and a shared interest in the stability of the global economy.

March 19, 2018

Saudi Arabia plans to go to international capital debt markets again this year, after issuing a $17.5 billion bond in 2016, followed by a $9 billion sukuk, and a $12.5 billion conventional bond in 2017.

March 15, 2018

The UAE emirate of Sharjah raises $1 billion through a 10-year sukuk, the emirate’s biggest transaction in debt capital markets.

March 8, 2018

Saudi Arabia will refinance its 2016 $10 billion syndicated loan with creditors, and increase the debt to $16 billion at lower and extended repayment terms.

March 3, 2018

Bahrain selects five banks to arrange the transaction of an upcoming international bond issue – the same banks from its September 2017 issue.

February 21, 2018

Oman considers dollar-denominated sukuk to finance budget deficit; this will likely take place in March.

February 8, 2018

Market Watch: Oman’s Investment and Reform Strategy: “Slow and Go”

Duqm Port by Karen E. Young Oman exemplifies the challenges of generating investment and infrastructure growth with diminishing fiscal resources.

January 25, 2018

Oman plans to borrow as much as $2 billion in a loan from international banks.

January 23, 2018

Saudi Arabia sends out a request for proposals to banks to refinance an outstanding $10 billion syndicated loan from 2016.

January 21, 2018

Kuwait considers dollar-denominated bond sale, following $8 billion issue in March 2017.

January 21, 2018

The government of Oman – rated BB/Baa2/BBB by S&P, Moody’s, and Fitch, respectively – raises $6.5 billion via issuance of bonds with tenure of 5-year at T+190bps ($1.25 billion), 10-year at T+310bps ($2.5 billion), and 30-year at T+395bps ($2.75 billion).

January 10, 2018

The Bridge: ADNOC Accelerates Partnership Initiatives and Expands Investment Opportunities.

by Diane Munro

The aggressive restructuring of the Abu Dhabi National Oil Company is moving at a break neck pace, essentially rewriting its ambitious energy playbook in less than two years.

November 30, 2017

Oman announces plans to sell OMR 150 million ($390 mln) development bond open to local and foreign investors, following similar OMR 150 million bond in September.

November 25, 2017

Abu Dhabi National Oil Company, ADNOC, issues $3 billion bond, signaling ability of state-related entities to raise significant source of external financing.

November 6, 2017

Market Watch: Bahrain’s Road to Economic Reform: One Size Does Not Fit All

by Karen E. Young

Bahrain’s current fiscal situation is evidence that sometimes, even with the right policy mix, generating growth can be difficult.

November 3, 2017

Saudi Arabia raises 10 billion riyals ($2.67 bn) in fourth issue of riyal-denominated domestic sukuk: 4.15 bn ($1.11 bn) in five-year tranche, 1.35 bn ($360 mn) in seven-year tranche, and 4.50 bn ($1.2 bn) in ten-year tranche.

October 24, 2017

Market Watch: UAE Fiscal Policy — Shining Light on Federal Resource Sharing

by Karen E. Young

Government bonds are a popular remedy to budget deficits across the Gulf Cooperation Council states right now.

October 20, 2017

ADNOC prepares to issue $3 billion bond.

October 19, 2017

Qatar seeks to raise at least $9 billion from new bond sale.

October 10, 2017

Bahrain’s state-owned oil company plans to issue 10-year bond.

October 9, 2017

Abu Dhabi raises $10 billion in bond offering: $3 billion in five-year notes, $4 billion of ten-year tranche, and $3 billion in 30-year offering.”

October 3, 2017

Abu Dhabi seeks to issue its first 30-year dollar-denominated bond.

October 2, 2017

Saudi Arabia raises $12.5 billion in dollar-denominated bonds maturing in 2023, 2028, and 2047.

September 27, 2017

Saudi Arabia hires foreign banks to lead plans for three-tranche bond sale, intended to offset falling oil revenues.

September 25, 2017

Saudi Arabia raises 7 billion riyals ($1.87 billion) from third issue of riyal-denominated sukuk: 2.4 billion ($639 million) in 5-year tranche, 3.9 billion ($1.04 billion) in 7-year notes, and 700 million ($186.7 million) in 10-year tranche.

September 19, 2017

Bahrain has issued $3 billion in new syndicated debt (more than anticipated) – reportedly $850 million in a sukuk, $1.25 billion in 12-year notes, and $900 million due in 30 years.

September 14, 2017

Bahrain will launch multitranche dollar-denominated bonds and sukuk, expected to raise at least $1.5 billion, as follows: 7.5-year sukuk, 12-year conventional bond, and 30-year conventional bond.

September 13, 2017

Bahrain is in talks with arrangers on new dollar bonds in seven-, 12-, and 30-year terms.

September 6, 2017

Saudi Arabia sells its second sukuk of 2017 to local markets in three tranches, raising 13 billion riyals ($3.47 billion).

August 24, 2017

Saudi Arabia plans to launch second issue of local currency sukuk.

August 16, 2017

Bahrain hires banks in anticipation of U.S. dollar bond issue.

August 8, 2017

Oman borrows $3.55 billion from Chinese banks to meet 2017 fiscal deficit.

August 3, 2017

Moody’s downgrades bond ratings for Oman (Baa2-negative outlook) and Bahrain (B1-junk status-negative outlook).

July 31, 2017

Bahrain seeks proposals to arrange a dollar-denominated bond, and sukuk.

July 26, 2017

Saudi Arabia raises 17 billion riyals ($4.53 billion) in an oversubscribed sukuk from investors, for its first riyal-denominated Islamic bond.

July 25, 2017

Saudi Arabia offers new sukuk in local currency, in 3 tranches (5, 7, and 10 years) hoping to raise as much as 10 billion riyals ($2.7 billion).

July 23, 2017

Saudi Arabia announces intent to issue sukuk.

July 10, 2017

Oman raises $2 billion through sukuk, with an interest rate of 4.397 percent.

May 24, 2017

Oman plans to raise $2 billion through sukuk sale.

May 17, 2017

S&P downgrades Oman sovereign to non-investment grade, from BBB- to BB+.

May 12, 2017

Oman seeks to borrow $3.6 billion from three Chinese banks to meet spending needs.

May 9, 2017

Saudi Arabia raises $9 billion with its first international sukuk issue.

April 13, 2017

Kuwait plans to increase its public debt ceiling from 10 billion dinars, to 20 billion dinars ($65.62 billion).

April 4, 2017

Kuwait to raise $8 billion with its first international bond issue.

March 13, 2017

Oman issues $5 billion in international bonds.

March 2, 2017

Bahrain issues a $600 million tap from its $1 billion October 2028 bond.

February 21, 2017

Market Watch: Oman’s Fiscal Management Problem

by Karen E. Young For Oman, balancing domestic pressures against necessary economic reforms is proving difficult.

February 10, 2017

Oman issues short-term treasury bills to the local bank market in the amount of 32.77 million Omani rials ($85.08 million).

February 7, 2017

Qatar sells 15 billion Qatari riyals ($4.1 billion) in bonds to the local debt market.

January 17, 2017

Kuwait prepares for its first dollar-denominated bond issue.

January 16, 2017

Oman prepares for an international bond issue.

January 3, 2017

Market Watch: Saudi Arabia’s Impeccable Timing in Debt Markets

by Karen E. Young Saudi Arabia's unprecedented bond sale worth $17.5 billion had impeccable timing, given Donald Trump's victory in the U.S. presidential election.

November 9, 2016

Kuwait's quasi-sovereign EQUATE issues a new government-backed corporate bond.

November 8, 2016

Kuwait announces plans for an international bond sale in 2017.

November 8, 2016

Oman issues short term treasury bills to the local bank market in the amount of 42 million Omani rials ($109 million).

November 2, 2016

Saudi Arabia's first international bond sale will be larger than expected.

October 19, 2016

Bahrain issues $2 billion in international bonds, half in a sukuk.

October 4, 2016

Qatar sells 4.6 billion Qatari riyals ($1.26 billion) in bonds to local debt market.

September 20, 2016

Saudi Arabia continues bond sales to the local bank market in local currency, up to 20 billion Saudi riyals ($5.3 billion ) in August.

August 23, 2016

Market Watch: GCC Sovereign Debt in a Low Yield World

by Karen E. Young Low yields result in more accessible capital for GCC states, however repayment could be a challenge in the long term.

July 14, 2016

State-owned Petroleum Development Oman obtains $4 billion in loans from international banks.

June 29, 2016

Issue Paper: Gulf Islamic Finance in a Time of Austerity

by Mai Mahmoud

Islamic finance has grown in importance in most of the Gulf Cooperation Council countries since 2013. Islamic banks now represent more than 25 percent of the banking system in the GCC, and the region’s sukuk (sharia-compliant financial securities) market is the second largest in the world after Malaysia.

June 15, 2016

Oman issues debt in the form of a $2.5 billion bond – its first debt issue in nearly 20 years.

June 9, 2016

Qatar issues debt in the form of a $9 billion bond (in three maturities: five, 10, and 30 years), surprising markets with the amount of investor interest.

May 26, 2016

Kuwait makes plans to issue a sovereign bond.

May 19, 2016

Bahrain issues a $435 million privately placed sukuk.

May 15, 2016

Moody’s lowers Oman's credit rating from A3 to Baa1.

May 14, 2016

Moody’s lowers Bahrain's credit rating from Ba1 to Ba2.

May 14, 2016

Abu Dhabi's $5 billion bond issue receives orders worth $17 billion.

May 10, 2016

Abu Dhabi state fund Mubadala aims to sell a $500 million, seven year bond in late May.

May 9, 2016

Qatari government announces plans for a bond sale aiming to raise up to $5 billion

May 4, 2016

Saudi government sells five, seven, and ten year floating rate notes.

April 25, 2016

Private Omani firms consider issuing sukuks.

April 24, 2016

United Arab Emirates government considers setting up a domestic bond market

April 24, 2016

Market Watch: The Debt Roadshow Begins

by Karen E. Young GCC states show significant interest in sovereign debt, in the form of bonds and loans.

April 21, 2016

Qatar’s Ahli Bank completes a $500 million debut bond issue.

April 12, 2016

Kuwait plans to issue debt worth 2 billion Kuwaiti dinars ($6.6 billion), split equally between sukuk and conventional bonds.

April 4, 2016

Standard & Poor’s lowers Oman's credit rating two notches to BBB-minus.

March 1, 2016

Moody’s lowers Oman's credit ratings by two notches to A3.

February 27, 2016

Bahraini government terminates a $750 million bond sale of five and ten year bonds, only to reopen the cancelled sale as $600 million, with borrowing costs raised by 25 basis points.

February 23, 2016

Standard & Poor’s cut Saudi Arabia's credit worthiness twice in less than six months to A-.

February 17, 2016

Standard & Poor’s lowers Bahrain's credit worthiness from BBB- to BB, now rating it as junk.

February 17, 2016

Market Watch: Enter China: The New Bilateral Middle East Aid-Security-Trade Nexus

by Karen E. Young

There is an important new donor seeking to enter the fray, to cement trade relationships and a regional presence – China.

February 5, 2016

Market Watch: New Year, Same Economy

by Karen E. Young

For the Gulf Arab economies, 2016 will be a year of challenges, and potential innovations.

January 7, 2016

Market Watch: Counting the Cost – Military Expenditure in the GCC

by Karen E. Young

As budget deficits become the new norm for oil-exporting Arab Gulf states, there is no evidence that they are cutting down on defense spending.

November 16, 2015

Market Watch: Egypt’s Economic Recovery Linked to Gulf Banks and Foreign Investment

by Karen E. Young

The stability of Egypt may depend on regional financial cooperation and intervention.

October 31, 2015

Market Watch: It’s all in the Financing – Renewable Energy Potential in the GCC and Iran

by Karen E. Young

While both economic and environmental concerns are driving reform processes across the Gulf Cooperation Council states, the real innovation is in how Gulf states harness their business acumen to attract investment and design deals that work for local financial markets, governments, and developers.

October 22, 2015

Market Watch: “Monetizing Assets” – Has a Great Gulf Sell-Off Begun?

by Karen E. Young Oil and gas producing states in the region have started to sell off their assets in order to offset the declining energy prices.

October 14, 2015

Market Watch: Volatile Global Markets and the Arab Gulf States

by Karen E. Young

Many investors have long anticipated an economic slowdown, but the timing couldn’t be worse for the Arab Gulf states.

August 25, 2015

Market Watch: From Lenders to Borrowers: The New Public Finance of the Arab Gulf States

by Karen E. Young

The Arab Gulf states have generally been creditors to other states, not borrowers; but that may soon start to change.

August 11, 2015

Gulf Economic Barometer

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