GCC counters pressure over USD 94bn of debt

29 Feb 2016

(MENAFN) The GCC is facing a USD 94bn debt lack which could struggle to meet among low oil prices and local economic insecurity, according to Arabian Business.

However, slowing growth, rising rates and rating reduces in the low oil price “only adds to the scale of the region’s funding challenge.”

Accordingly, the UAE makes the biggest amount of repayment or refinancing obligations over the 2016-2017 periods, trailed by free debt in Bahrain and Qatar.

In addition, most of the debt is owed by financial organizations at 22 percent, followed by sovereign wealth funds and energy borrowers with 19 percent.

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