Bahrain is considering selling bonds to raise at least $ 1.5 billion

Bahrain is preparing to enter the international bond markets through an agreement that, according to the well -known people, can collect at least $ 1.5 billion, with the effort to improve its financial conditions in light of the drop in oil prices. People, who asked not to reveal their identity because of the privacy of information, said the government of the Kingdom of Bahrain asked banks to submit proposals to arrange a possible issue, while trying to finance the debt within the next few months. One of the people added that Bahrain may also consider issuing SUKUK compatible with Islamic legislation, pointing out that the discussions are still underway, and that no final decisions have been made on the timing or size of the offer. Representatives of the Bahraini Ministry of Finance did not respond to a request for comment. Bahrainini bonds owed by data collected by “Bloomberg”, Bahrain has billion dollars worth the value of 1, as well as bonds of more than $ 1.6 billion in January. The kingdom has been active in bond markets in recent years as it released a $ 1.25 billion effects in November, raising two billion dollars through another February release. S&P Global Inc recently revised the future view of Bahrain’s credit rating and reduced it to ‘negative’, with the high levels of debt, the decline in oil prices and the slow progress in financial reforms. “The continuation of fluctuations in the markets, and poor financing conditions can increase the pressure on the burden of government debt benefits, which is one of the highest among our sovereign rankings and on foreign exchange reserves,” the credit rating agency said earlier this month. Despite these challenges of Bahrain’s economy, 12 economists have indicated that the “Bloomberg” is considered that the economic growth of Bahrain will grow to 2.9% this year, compared to 2.3% in 2024. Fadi Juna, director of the fixed income portfolio at the ‘capital numbers’ in Dubai, said that the process of managing the new debits -Bonds can receive the Bonds to bring about bonds. IT -investors with positive spirits. He added: “A month represents a good version window before entering the summer recession period and the prospect of volatility with the end of the customs shooting station for 90 days.” The International Monetary Fund estimates that the price of oil needed to achieve a financial tire in the Bahrain budget is about $ 125 a barrel, which is much higher than the current Brent trading scope that occurs in the middle of the dollar. Bahrain received a $ 10 billion financial support package from Saudi Arabia, the UAE and Kuwait in 2018 to improve its financial conditions after a long period of low oil prices.