Oman news

Oman Is More Than Halfway Toward Meeting Financing Needs in 2021: Bloomberg

New York, 4 Apr (ONA) —- Bloomberg news network has said that the Sultanate of Oman has gone a long way in meeting its funding requirements for 2021.

Quoting the Ministry of Finance’s monthly report issued recently, Bloomberg said that Oman is more than halfway toward meeting its total financing needs of RO 4.2 billion ($10.9 billion) for 2021. It said that the total fund received from funding agencies by the end of March 2021 stood at RO 2.37 billion.

“The government has RO 1.83 billion left to raise so far after borrowing RO 1.77 billion and withdrawing RO 600 million from Oman Investment Authority, as of end-March 2021”, said Bloomberg quoting the Finance Ministry.

The Ministry explained in its monthly report that, by the end of February 2021, as many as RO 144 million due towards addressing public debt (loan interest) has been paid, along with RO 563 million as part of original loan.

—- Ends/AB/KH

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