Reports this week suggest that Saudi policymakers may be close to shelving the Aramco IPO, which would reinforce concerns that the country’s commitment to the Vision 2030 reforms is waning. Elsewhere, fears about Bahrain’s weak public finances have eased this week. But the latest rally in its dollar bonds doesn’t seem to have strong foundations. Other Gulf States have yet to agree on a financing deal for the country, and Bahraini policymakers haven’t set out plans for fiscal consolidation.
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