Saudi Arabia, Kuwait & UAE Consider Options for Supporting Bahrain after Dinar Decline

2018-06-28 - 1:36 am

Bahrain Mirror: A number of gulf states said that they are considering options to financially support Bahrain, hours after the dinar currency plummeted to its lowest rates in 17 years against the US dollar on Tuesday.

The Saudi Press Agency reported that "Saudi Arabia and its brothers in Kuwait, and the United Arab of Emirates (UAE) are in discussions with the authorities in the Kingdom of Bahrain to enhance the stability of the financial situation in Kingdom of Bahrain."

The three countries confirmed their commitment to consider all options to support the Kingdom of Bahrain and to finalize an integrated program that will soon be announced to enable Bahrain to support its economic reforms and fiscal stability.

Bahrain's dinar sank to a 17-year low against the US dollar on Tuesday as hedge funds dumped Bahraini bonds because of concern about the country's rising public debt, regional bankers said, according to Reuters.


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