Oman's new sultan faces 'balancing act' as credit crunch looms - Reuters:
Holders of more than $20 billion of Oman’s dollar bonds want the new sultan to push through urgent reforms to ward off a credit crunch in the Gulf’s worst performing economy.
The swift appointment of Haitham bin Tariq al-Said after the death on Friday of Sultan Qaboos bin Said reassured investors, as some had feared a protracted succession that could have exposed Oman to external interference.
While world leaders welcomed Haitham’s promise to uphold a balanced foreign policy, analysts said he needed to tackle unemployment and strained public finances in the indebted country.
“It is in the domestic politics and economic policy realm where the ultimate success of Haitham’s leadership will be determined,” said Robert Mogielnicki of the Washington-based Arab Gulf States Institute.
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