Oman taps debt markets to keep economy afloat and state firms in check

Risk Management
Issue 1043 - 09 Sep 2017 | 4 minute read

Concern over the sultanate’s current account and other balances are being reflected in an upturn in sovereign and corporate debt issuance. The most eye-catching deal of the Omani summer was a $3.6bn loan agreed by the government with a group of unnamed Chinese financial institutions. Finalised in July and unveiled in August, the five-year unsecured loan was only marketed to Chinese lenders; it is something of a departure for the sultanate, which has tended to rely on financial aid from rich regional allies such as Saudi Arabia, Kuwait and the UAE, or loans from western lenders.

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