UPDATE 1-Bahrain does not plan new dollar bond issue this year | Reuters:
Bahrain does not plan to issue new U.S. dollar-denominated bonds this year, a central bank official told investors on Tuesday, after the kingdom secured a $10 billion aid package from Gulf neighbours last week, one source said.
A government spokesperson confirmed that in light of the government’s recently announced fiscal balance programme, there was no plan to issue a new bond this year.
Bahrain, which was hit hard over the past few years by a slump in oil prices, is one of the financially weakest states in the Gulf, with a public debt estimated at 85.5 percent of gross domestic product in 2018.
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