Call us on
+44 (0) 207 045 0920

Middle East

Once a Mirage, An Asset Class Begins to Emerge: GCC Local Currency Bond Markets

The growth of the GCC debt capital markets in the first decade of this century was reasonably stunted as the region’s need for debt funding was negligible in the face of abundant liquidity ensuing from high oil prices. Due in large part to its sources of revenue and the prevalence of currency pegs, the region’s borrowers have predominately relied on US dollar funding. But as the region’s corporate entities grow and become more sophisticated, requiring deeper and more diverse domestic funding markets, that looks set to change – with regional governments taking the lead.

Subscribe for access:

Recommended Stories