Oman Requests Bailout from GCCC

Discussion in 'The Middle East & North Africa' started by Falcon, Jan 11, 2017.

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  1. Falcon

    Falcon Lieutenant Colonel Staff Member Social Media Team

    Oct 10, 2015
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    Oman seeks multi-billion bailout from Gulf neighbours: Report

    Oman is negotiating with wealthy Gulf Arab states to secure a multi-billion dollar deposit in its central bank, two sources have told the Reuters news agency, although the Sultanate denied the report.

    The sources, declining to be named because the matter is not public, said Omani officials had met in recent weeks with officials of the finance ministries of Kuwait, Qatar and Saudi Arabia to discuss the proposed deposit.

    The talks are at an early stage but "signs so far are positive", said an Oman-based source close to the discussions. He added: "This can lessen the risk of devaluation."

    A Qatari official confirmed that negotiations were under way, saying: "What is being discussed is in the region of billions of dollars. It is in the collective interest of the region to keep the exchange rate intact."

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