Quiet but strong month for bonds in the the Middle East and North Africa | The National:
"April was a positive month for bonds in the Middle East and North Africa, with the Citi Mena Broad Index returning 0.71 per cent over the month as news flow out of the region continued to be generally upbeat. However, they underperformed worldwide emerging market bonds.
Good news during the month included the IMF raising its 2014 forecast for GDP growth in the UAE and Qatar to 4.4 per cent and 5.9 per cent respectively, spurred by double-digit growth in construction, financials, property and business services as both countries continued to diversify their economies and invest heavily in infrastructure.
The IMF, however, lowered its growth forecast for Saudi Arabia from 4.4 per cent to 4.1 per cent as “Saudisation” led to the mass expulsion of immigrants and the authorities grappled with a serious Mers outbreak, which has killed more than 100 people since 2012."
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