Wednesday , 13 December 2017

Home » RESOURCES » MARKET » Saudi Arabia to tap international market bond markets

Saudi Arabia to tap international market bond markets

As slumping oil prices affect its public finances, Saudi Arabia would tap global bond markets for the first time.

Officials said the country could raise debt levels to around 50% of gross domestic product within five years, from a projected 6.7% this year and 17.3% in 2016.

A senior official disclosed finalizing the bond program is likely to begin in January. Some lenders have already sent uninvited proposals to help the kingdom in trailing international markets.

Oil price, which declined from $115 a barrel in 2014 to $50 this year, as well as Saudi’s military intervention in Yemen, have underscored the necessity to tap bond markets to augment its finances.

The material has been provided by InstaForex Company – www.instaforex.com

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Saudi Arabia to tap international market bond markets Reviewed by on . As slumping oil prices affect its public finances, Saudi Arabia would tap global bond markets for the first time.Officials said the country could raise debt lev As slumping oil prices affect its public finances, Saudi Arabia would tap global bond markets for the first time.Officials said the country could raise debt lev Rating:
scroll to top