Bahrain bailout tied to "general assessment" of rebalancing, not specific numbers: FinMin | ZAWYA MENA Edition:
A $10 billion bailout pledged to Bahrain – one of the Gulf's weakest economies – from Saudi Arabia, Kuwait and the United Arab Emirates is tied to a "general assessment" of its progress in rebalancing its fiscal position rather than to specific numbers, its finance minister said.
Bahrain in October was promised the $10 billion in assistance over five years from the three Gulf allies after experiencing severe pressure in currency and debt markets.
"We put together a fiscal balance plan for Bahrain, by Bahrain, which was then presented to the three countries. The main thing with regards to the support attached to that plan is an assessment of us staying on plan," Sheikh Salman bin Khalifa Al Khalifa told Reuters on the sidelines of an investment conference in Manama.
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