Participants in the roundtable were:
GC: Gulf borrowers have a lot to raise this year in the international debt markets. But there are headwinds: a new US president, disappointing global growth, rising US interest rates and geopolitical unrest, to name but a few of the known issues we have to face this year. Yet the capital markets are still enjoying exceptionally bullish conditions. Gulf issuers have had an excellent 2017, so far. Can it last?
|Dima Jardaneh, |
|Tom Koczwara, |
Government of Sharjah
|Thuwaini Al-Thuwaini, |
|Salman Ansari, |
|Mike Wallace, Aldar|
|Zeina Rizk Arqaam,|
Kronfol, Franklin: Bahrain’s reserve position and their finances are arguably inconsistent with having a dollar peg, which will come under pressure at some point. We suspect that they will find a big deposit by Saudi Arabia into their central bank or they will figure out a way to make sure that the external deficits are addressed. But it does need to be addressed, if you want to remain credible and continue to access bond markets independently.
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