Kuwait is weighing plans to sell dollar-denominated bonds, according to people familiar with the matter, joining other Gulf Cooperation Council states also said to be considering sales.
Qatar, Saudi Arabia and Abu Dhabi are planning to tap the debt market in the first quarter to help plug budget deficits, people familiar with the matter said earlier this month. Oman already raised $6.5 billion from a bond offering this year as the Middle East’s biggest non-OPEC producer also seeks to bridge a deficit.
The ministry of finance said in an emailed response to questions that no decisions have been made “regarding any potential issuance, timing or size of issuance” and no roadshows are currently planned.
Once a debt law is in place, the ministry “will determine if and when any international debt will be issued,” it said in a statement. “Debt is integral to the government’s balanced approach to finance short-term fiscal requirements through a prudent and responsible mix of GRF withdrawals and debt issuance.”
