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The last time Bahrain tapped the international debt market was in January, when it raised $2 billion
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Bahrain’s 2020 budget deficit of $4.2 billion exceeded the government’s projection in its fiscal plan
Bahrain is looking to tap international debt market in the second half of this year and has begun talks with banks for a potential international debt sale.
According to Bloomberg, citing sources familiar with the matter, discussions are going on with various banks. This debt sale would bring some relief to Bahrain after witnessing a sharp deterioration in finances during 2020 amid widespread lockdowns imposed by the pandemic, which curbed demand for energy and dragged Brent crude to the lowest level in about two decades.
The last time the Bahraini Kingdom tapped the international debt market was in January, when it raised $2 billion. Bahrain’s 2020 budget deficit of 1.6 billion dinars ($4.2 billion) exceeded the government’s projection in its fiscal plan.
Moody’s Investors Service and S&P Global Ratings lowered the country’s outlook to negative in the last few weeks.