Economics
Gulf Powers Weigh Five-Year Bahrain Aid Package
- Assistance will help cover funding gap, protect currency peg
- Part of the package may come thorough deposits, loans
Photographer: Phil Weymouth/Bloomberg
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Bahrain’s Gulf Arab allies are weighing plans for a five-year aid package to steady its finances and protect a currency peg seen as vital to regional economic stability, according to three people with knowledge of the matter. Bonds gained.
The assistance would help Bahrain meet its financing needs over the period while it carries out fiscal reforms, the people said on condition of anonymity. The amount under negotiation is $10 billion, though a final agreement has yet to be reached, one of the people said.