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Thursday, 17 May 2018

Bahrain slow to implement reforms despite debt woes

Bahrain slow to implement reforms despite debt woes:

"Greylock Capital Management LLC, a hedge fund that holds the distressed bonds of Mozambique and Venezuela, says Bahrain is its next potential target.
The cash-strapped Gulf nation has been slow to implement reforms compared with its richer neighbours, including Saudi Arabia, after the slide in oil prices that began in 2014 eroded their wealth. Bahrain will have to revive its financial fortunes to prevent its debt from slumping to distressed levels, according to Bashar Zakaria at the California Public Employees’ Retirement System, the largest US pension fund.
“There’s been a lot of chatter around some of their fiscal stresses,” said Hans Humes, the chief executive officer of New York-based Greylock Capital Management, which specializes in emerging-markets distressed debt."



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