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Gulf firms will meet debt payments, says report
- Middle East: Tuesday, October 14 - 2008 at 14:38
A new report by Merril Lynch says Gulf companies will meet their debt repayments because regional governments are pumping liquidity into local state-controlled banks, reported Bloomberg. State-owned companies account for 92 percent of the total debt to be repaid this year and 61 percent for next, Merrill's London-based analyst Tala Boulos wrote in the report. The region would need $15bn by the end of this year and $35bn next year to meet offshore funding repayments.
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Jeff Florian, Senior ReporterTuesday, October 14 - 2008 at 14:38 UAE local time (GMT+4)
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