KUWAIT: Out of the six GCC nations, Saudi Arabia undoubtedly has issued the most number of debt issues in 2017 totaling USD 12.5bn on the international market, according to Marmore MENA Intelligence, a subsidiary of Kuwait Financial Centre “Markaz”.
“Saudi Arabian authorities have hinted that they plan to raise most of their funds through the domestic route and only the remainder from international issuances. These debt issuances are expected to keep at bay the extreme drawdowns on the government’s foreign reserves; it fell by almost 29% in 2016 but looks to be on stabilizing path in 2017 with the international issuances.
