Driving this trend are the positive balance sheets that several countries in the region are expected to show this year.
“This is a trend we have seen throughout EEMEA, sovereigns are borrowing less, while corporates are borrowing more. I think 2007 will see this trend continue,” says Maryam Khosrowshahi, managing director in debt capital markets and global fixed income at Citi.
Reasons
Standard and Poor’s report, Middle East and Africa sovereign issuance outlook: refinancing to dominate borrowing in 2006, included data for the 24 rated countries in the region.
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