Bahrain Asks Gulf States to Move Closer Date for Planned Aid Package

2020-04-21 - 2:08 am

Bahrain Mirror (Exclusive): Sources in the Ministry of Finance and National Economy said that Bahrain has asked the Gulf States to move closer date for planned aid package as part of the financial balance program.

Bahrain has signed a conditional agreement to carry out structural reforms with Saudi Arabia, Kuwait and the United Arab Emirates in exchange for $10 billion aid.

Under the agreement, Bahrain received $2.3 billion in 2018 and $2.28 billion in 2019.

The sources said Bahrain has requested to move closer the date of receiving $1.76 billion payment this year.

Bahrain was forced last March to borrow $1.2 billion to pay outstanding bonds.

The country's public finances face increasing pressure due to the effects of the Coronavirus outbreak and oil prices downfall.

Arabic Version