Abu Dhabi Plans First Treasury Bill Sales Next Year
- Emirate working on framework with international, local banks
- Gulf states are selling debt to bridge budget deficits
Abu Dhabi, United Arab Emirates.
Photographer: Alex Atack/Bloomberg
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Abu Dhabi plans to start selling treasury bills for the first time next year, according to people with knowledge of the matter, as the OPEC producer seeks to develop its local-currency debt market.
The government is working with international and local banks on how the notes will be structured, the people said, asking not to be identified because the discussions are private. Regulations are expected to be completed next year and regular sales could follow shortly after that, the people said.