Oman moves foreign, finance ministers from Sultan’s remit

Oman moves foreign, finance ministers from Sultan’s remit

DUBAI- Oman has designated ministers of foreign affairs and finance, and a new central bank chairman, titles formerly held by the ruling Sultan, in a broad restructuring of its administration, state TV said on Tuesday.Sultan Haitham bin Tariq al-Said, who came to power in January after Sultan Qaboos bin Said died after half a century in power, maintains the titles of prime minister, defense minister, and head of the armed forces.Oman previously had a minister responsible for financial affairs and a minister responsible for foreign affairs, whose briefs were overseen by the sultan.The reforms come as Oman, a relatively small Gulf oil producer whose debt is rated "junk" by all major ratings agencies, is struggling with a widening budget deficit and an economic downturn caused by the double blow of