Debt issuances in GCC rise to more than $142 bln in 2020: Kamco Invest
Published 05 Jan,2021 via Muscat Daily - The fiscal pressure from the decline in economic activity and lower oil revenues has resulted in increased borrowing by the GCC governments and corporates in 2020.
Total debt (bond and sukuk) issuances by the GCC governments and corporates during the January–November period of 2020 stood at around US$142bn, almost in line with last years levels and full year issuances in 2020 are expected to exceed last year levels, according to Kuwait-based asset management company Kamco Invest.
The GCC governments issued US$47.5bn in bonds in the first 11 months of 2020, while sukuk issued by the governments stood at US$28.7bn in the same period. On the other hand, GCC corporate issuances have also been active with US$46.2bn in bond issuances last year until November 2020, whereas corporate sukuk issuances stood at US$19.9bn.
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