Non-Resident MENA Capital Inflows Projected to Hit $177 Billion in 2021
- Date: 09-Nov-2020
- Source: Al Bawaba
- Sector:Financial Markets
- Country:Middle East
Non-Resident MENA Capital Inflows Projected to Hit $177 Billion in 2021
Non-resident capital inflows to the Middle East and North Africa (Mena) region will edge up slightly in 2021 to $177 billion (Dh650 billion) in 2021, equivalent to 6.6 per cent of GDP, according to a new report.
So far this year hard currency bond issuance by Saudi Arabia, the UAE, Qatar, Bahrain, and Oman has amounted to $91 billion, as compared with $99 billion for the whole year of 2019. While spreads have narrowed in recent months, they are still wider than pre-Covid levels.
“We project gross public external financing needs of the region at about $100 billion in 2021, driven largely by the six GCC countries. Strong demand for high-quality assets from the region will remain at least for the next few years given the large financial buffers in the form
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