Saudi Arabia to refinance $11.5b of debt in 2022

Saudi Arabia to refinance .5b of debt in 2022

RIYADH (Agencies): Saudi Arabia’s funding requirement for 2022 will mainly focus on debt refinancing which amounts to approximately SR43 billion ($11.5 billion), the Kingdom’s National Debt Management Center said in a statement.
NDMC Board of Directors, chaired by the Minister of Finance, Mohammed Al-Jadaan, endorsed the 2022 annual borrowing plan during its last meeting according to the statement.
The plan highlighted that the NDMC will continue to proactively monitor the market taking into consideration interest rate movements and will be seizing opportunities that will enhance the characteristics of the Kingdom’s debt portfolio.
As per 2022 official budget statement, public debt is estimated to remain at approximately SR938 billion by 2022 year-end.
“Based on market conditions throughout 2022 and while maintaining the current debt strategy, the government might consider additional tactical funding activities through the available funding channels, either domestically or internationally including debt capital markets and/or government alternative financing to fund opportunities that will promote economic growth such as capital expenditures and infrastructure financing,” the statement added.

The post Saudi Arabia to refinance $11.5b of debt in 2022 appeared first on The Frontier Post.