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Saudi Debut International Sukuk Raises $9bn; Aramco Taps Further $3bn
...untry’s other means of covering its deficit is to draw down its foreign reserves. These had shrunk to $514bn at end-February – the lowest since 2011: they were $593bn a year earlier and peaked at $732bn at end-2014 (see chart). The sukuk helps to alleviate pressure on these foreign reserves. Moody’s as...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Imports Of Iranian Crude & Condensate Rise Strongly; But Is It Sustainable?
...• South Korea imported 243,000 b/d from Iran in March. Though this was down a touch on February’s 267,000 b/d it marked the third straight month over 200,000 b/d with first quarter imports from Iran at the highest quarterly level since Q3 2011, just before sanctions were tightened (see p21 fo...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
IMF Warns Qatar Of Budget Deficit
...dition, expenditure growth could be further restrained if energy subsidies are reduced. Qatar does not disclose details of allocation for energy subsidies, but the IMF has estimated them at 3.5% of GDP in 2011. It adds that water subsidies may also be sizable, “as water consumption rates and technical lo...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
After Iran’s Nuclear Deal, Economic Reforms Are A Must
...th exports and production to pre-sanctions levels in just a matter of months, once sanctions are lifted. Iranian oil exports have been running at an average of 1.2mn b/d over the past six months, down from just over 2.5mn b/d in 2011 – pre-sanctions. Iranian crude oil production meanwhile has av...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Egypt’s Economy: Still A Long Road To Recovery
...3% in 2016. It expects general government debt to “decline gradually to less than 90% of GDP during 2015-16.” Debt peaked at 90.5% of GDP in 2013-14, according to IMF figures, up from 77% before the 2011 ‘Revolution’. Egypt is targeting a doubling of foreign direct investment (FDI) for the cu...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
No Breakthrough In Egypt-IMF Loan Negotiations
...economics, but also depends on politics… You need to restore confidence.” In order to stabilize the level of the Egyptian pound, which has slid from E£5.80 to the dollar at the beginning of 2011 to E£6.90 now, as well as the country’s banking system “a set of economic policies which goes in the di...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013