GCC States Foreign Assets Accumulation to Slow in 2012, IFF Says

Gulf Cooperation Council countries, which includes six Arab states bordering the Persian Gulf, will slow their accumulation of foreign assets this year, George Abed, the Institute of International Finance’s director for Africa and the Middle East said.

Kuwait, Saudi Arabia, Qatar, Bahrain, the United Arab Emirates and Oman will together hold $2.02 trillion in foreign assets at the end of 2012, up 12 percent from 2011, George Abed said in a presentation at a conference in Doha, Qatar, today. Total foreign assets grew 14 percent between 2010 and 2011, according to data he presented.

To contact the reporter on this story: Robert Tuttle in Doha at rtuttle@bloomberg.net

To contact the editor responsible for this story: Riad Hamade at rhamade@bloomberg.net

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