Bailed-out #Bahrain may need more Gulf support as soon as this year - Reuters

Bailed-out Bahrain may need more Gulf support as soon as this year - Reuters:

Bahrain may need more financial aid from fellow Gulf Arab states as soon as this year but its wealthier neighbours could themselves be hamstrung by low oil prices and the economic impact of the new coronavirus, bankers and analysts said.

Bahrain, rated junk by major credit rating agencies, in 2018 received a $10 billion aid package over five years from Saudi Arabia, Kuwait and the United Arab Emirates to help it avoid a credit crunch in a deal tied to fiscal reform.

But the U.S.-allied island state, a small oil producer, could need a larger amount than allotted for 2020 to fill bigger financing needs with petroleum prices at $20-$30 a barrel.

Bahrain announced in March an $11 billion stimulus package including plans to spend $570 million on private sector salaries to mitigate the coronavirus impact on the economy.