FINANCIAL NEWS

No major capital flight: Bahraini central bank

26 Feb 2011

(MENAFN) The governor of the Bahraini central bank confirmed that there was no major capital flight in the country caused by the political unrest that is currently taking place, reported Arabian Business.

The governor added that the bond issuance that was already planned with the value of a USD1 billion would take place as soon as costs are acceptable. The bond issuance aims at reducing the country’s deficit and had been scheduled in March.

These statements come as the country faces a political turmoil that is considered Bahrain’s worst in the past two decades.

It is worth noting that if major capital flight happened, the Bahraini n Dinar would have a challenge of remaining steady as foreign currency reserves in the country are limited.

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