Debt finance is a fact of life for modern economies, as PIF has recognized | Arab News:
Suddenly, the senior echelons of the Saudi Arabian economy are in love with debt.
In a country that for most of its history lived off the considerable cash flow from oil, in the past couple of years the biggest entities in the Kingdom have changed their minds, and have either raised debt in international markets (like the government) or signaled their willingness to do so (like Saudi Aramco).
The latest member of Saudi Inc. to join the debt club looks like being the Public Investment Fund, the Kingdom’s pensions manager turned sovereign wealth fund.
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