Middle East & North Africa Economics

Middle East Economics Update

26 June, 2018

Bahrain comes back under the spotlight

The sell-off in Bahrain’s financial markets this week reflects fears that it is struggling to secure external financing to plug its large twin budget and current account deficits. We still think that the other Gulf countries will ultimately come forward with financial support but, until there is a firm commitment and/or a credible fiscal consolidation plan from the government, dollar bond spreads will widen further.

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