Wed, 2018-06-27 23:55
JEDDAH: Saudi Arabia, the UAE and Kuwait stepped in on Wednesday with pledges of financial support to avert a debt crisis in Bahrain.
The three Gulf allies said they were in discussions on an aid package and other options “to enable the kingdom of Bahrain to support its economic reforms and fiscal stability.”
The promise of support immediately eased fears that Manama may be unable to redeem a $750 million Islamic bond that will mature in November, and the dinar rose in value against the US dollar.
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