​OMAN: Bonds are finally coming to market

GULF COUNTRIES - Report 19 Oct 2020 by Rory Fyfe and Justin Alexander

* Oman is coming to market to raise up to $4bn in 3/7/12 year tranches.
* The revised budget expects a full-year deficit of -$10.9bn (-16.3% of GDP).
* The fiscal deficit disclosed for Jan-Aug of -$4.3bn seems to be an undercount.
* Government debt is at least $48bn (72% of GDP), and GRE debt at least a further $28bn (42%).
* Around $58bn of assets were disclosed, including $20bn in OIA’s foreign reserve assets.
* There were hints about efforts to secure support from Gulf neighbors and multilaterals.

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