Middle East News: Oman Seeks More Than $1 Billion in Loans - Bloomberg:
Oman, the most vulnerable Gulf country in the oil-price war, plans to raise more than $1 billion in loans in the first half to bridge its budget deficit, according to people with knowledge of the plans.
The sultanate, which is rated junk by the three major rating companies, is in talks with local and international banks about the borrowing, the people said, asking not to be identified because the talks are private. No decision has been made, they said.
If oil prices remain low the government will focus on asset sales and reserves to fill a widening gap, one of the people said. The Ministry of Finance didn’t immediately respond to requests for comment.
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