بقيمة ملياري دولار..  البحرين تصدر أول سندات دين لها في عام 2024 - video Dailymotion

Watch بقيمة ملياري دولار..  البحرين تصدر أول سندات دين لها في عام 2024 - CNBCArabia on Dailymotion

Transcript

00:00 It seems that Bahrain is at least a share between the Gulf countries in its dependence on non-oil

00:09 wills, as the rest of the countries that tried to extend their state's treasury with non-oil

00:17 wills did not succeed.

00:19 Therefore, Bahrain needs to finance the deficit in the budget as long as the balance of the

00:25 oil is far from its targets.

00:30 How does Bahrain deal with this deficit?

00:33 By issuing bonds and bonds and by resorting to the international debt market.

00:38 Today, we announce the first deal for Bahrain in 2024,

00:44 which will announce the entry into the debt market of nearly two billion dollars.

00:49 The demand for Bahrain's debt was very strong, it reached nearly 14 billion dollars.

00:55 The reason is that Bahrain's debt offers high interest rates due to the quality of its assets

01:01 and the quality of its trust.

01:04 We are talking about a trust class that may be the weakest among the Gulf economies,

01:09 and therefore the interest rate offered on these debts is high and tempting.

01:14 For example, the two billion dollars that Bahrain needs today are divided into bonds and bonds.

01:21 The bonds are for 12 years worth a billion dollars, a tempting interest rate of 7.5%.

01:27 As for the bonds, they come for seven years worth a billion dollars and have 6% interest.

01:35 But there is something related to these exports.

01:38 The possible purpose of these exports is to contribute to the increase in the financial deficit

01:44 and to finance the Bahraini budget.

01:47 Let's move on to the financial center today, the expected financial deficit to reach 428 million dollars this year,

01:53 unlike the previous year, which reached 1.38 billion dollars.

01:58 The reason is that Bahrain was targeted by the IMF and the price of oil barrels exceeded 100 dollars.

02:05 Therefore, it had a superior deficit.

02:08 As for the IMF, Bahrain needs the price of oil barrels to achieve a zero balance,

02:17 meaning that it has no deficit or deficit less than it has in the matter.

02:21 The previous year, the price of oil barrels needed to be 108 dollars, which was not achieved.

02:26 This year, the average price of oil barrels needs to be 97 dollars,

02:30 so that it can achieve the break-even price, which is not a deficit, but it comes out of the deficit.

02:39 As long as the prices are around 80 dollars and below 80 dollars,

02:43 we are sure that we have a deficit in the balance of Bahrain.

02:48 Let's move on to the talk about the financial distribution,

02:52 which prompted Bahrain to offer high interest rates and high debt costs,

02:56 in addition to the high cost of the CDS for Bahrain.

03:00 We are talking about a stable future outlook by Moody's,

03:03 but the financial distribution of Bahrain is at B2, which is under the high risk band.

03:10 This does not mean that it is not able to pay off, but the CDS is high,

03:15 which is the insurance for the impact of the payment of debts and commitments to the state.

03:20 The Kingdom of Bahrain will try to pay off some of its deficit in its budget,

03:27 but this is the first issue and the return to the markets in 2024.

03:32 [ Foreign Language Spoken ]