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GCC sovereign issues surge 25% to $66bn in 2020 KUWAIT, February 3, 2021 Sovereign issuances by GCC entities amounted to $66.3 billion during 2020 amid growing budget deficits ensuing from Covid-19 and lower oil prices, up 25% year-on-year from $52.9 billion raised during 2019, a report said. Corporate issuances on the other hand amounted to a total value of $66.4 billion during the past year, an increase of 8% year-on-year from $61.3 billion raised during the previous year, added the report titled “GCC Bonds and Sukuk Market Survey 2020” by Kuwait Financial Centre (Markaz). The report showed that despite the double blow of the outbreak of Covid-19 and the subsequent decline in oil prices, primary debt issuances set a new record for the total value of issuances raised in one year.

Saudi arabiaCity ofUnited kingdomSaudi arabianSukuk marketLondon stock exchangeCentral bankKuwait financial centre markazTradearabia news serviceSukuk market surveyKuwait financial centreSaudi riyalInvestment gradeStock exchangeAmount outstandingSovereign bonds