- Saudi Arabia plans to cut back on debt issuance in the second half of 2024, supported by Aramco’s increased dividend payouts
- The Kingdom remains a global leader in sukuk offerings, with foreign participation in its domestic debt market rising sharply
Riyadh, Saudi Arabia – Saudi Arabia is set to scale back its debt issuance in the latter half of 2024, thanks to increased dividend payments from oil giant Aramco, which have reduced the Kingdom’s need for sovereign finance, Fitch Ratings reported. This marks a shift from the first half of the year, where Saudi Arabia relied heavily on borrowing, positioning itself as the second-largest global issuer of US dollar debt after China and the top issuer of sukuk (Shariah-compliant bonds) worldwide.
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