Why the GCC is pledging support to Bahrain

      Published on Tuesday, 11 December , 2018      310 Views     
Why the GCC is pledging support to Bahrain

  • Gulf TV, Bahrain

The UAE, Saudi Arabia and Kuwait are set to announce a programme designed to support economic reforms and fiscal stability in Bahrain.




Their pledge comes as the Bahraini dinar fell for a fourth day in the onshore market to its weakest level since 1988, while the cost of insuring its debt against default for five years jumped 170 basis points – the most since records began in 2008 – to 609.

The International Monetary Fund expects the island kingdom’s debt to exceed 100 percent of economic output in 2019.



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Category Gulf TV, Bahrain | 2018/12/11 latest update at 7:00 PM
Source : Arabian Business | Photocredit : Google
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