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Turkey Claims Iraq Owes Nearly $1bn In Net Arbitration Damages
...accrue further interest until payment, or amicable resolution. Turkey’s claim is that “Iraq’s damages date from 2014 to 2018 – a period of relatively low [Turkish] bond yields,” and therefore “far more interest has accrued on Türkiye’s damages” which date back to 1990 until 2011. Based on...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Oman Taps Debt Market To Cover Low Oil Revenues
...vid-19 pandemic and oil price crash came as the country was already on the brink of economic crisis. Unlike its fellow GCC oil producers, the sultanate’s more modest oil production has failed to cover its increasingly bloated public sector – particularly after the 2014 price crash (MEES, 26 July 20...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Algeria Shuns Foreign Debt… By Printing Money?
...nds de Regulation des Recettes (FRR), a reserve fund intended for counter-cyclical spending, has been empty since February, whilst the country’s foreign currency reserves have collapsed from $179bn at end 2014 to just over $105bn at end-July. The IMF projects further falls to $79bn by end-2018 and $55...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Saudi Arabia To Cut ‘Unnecessary’ Spending
...bn (8.6%) to $669bn at the end of July from $732bn at the end of 2014. To finance the deficit, the government has raised $4bn in bonds from the local market in July and $5bn in August, with plans to issue more debt on a monthly basis until the end of the year (MEES, 21 August). Saudi state-owned fi...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
S&P Junks Iraqi Bond
...GDP in 2014. S&P is also projecting public debt to rise to 65% of GDP in 2015-18 from about 39% in 2014. With the collapse in oil prices, the agency expects the current account which had an average surplus of 10% of GDP in 2011-14 to turn to a deficit averaging 3% of GDP in 2015-18. Iraq plans to...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
Egypt Eyes $12.5bn Powergen Investment
...nistries of petroleum and finance. Egypt’s urban inflation rate rose to 11.5% for the year to August, partly due to the 5 July hike of petroleum product prices by as much as 77%, following the decision to cut petroleum products subsidies in the 2014-15 budget to E£100bn ($14.0bn), in a bid to reduce th...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Tunisia Eyes Foreign Investment Tonic
...11. The growth rate in the first half of 2014 fell to 2.1%, down on the same period last year, and is insufficient to absorb growing unemployment estimated at 15.7% in 2014. For the Tunisian authorities the main goal of the conference was to restore investor confidence through the government’s “st...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014