Gulf Cooperation Council (GCC) countries accounted for over 35 percent of all emerging-market (EM) U.S. dollar debt issued in the first quarter of 2025, excluding China. This represents an increase from approximately 25 percent in 2024, according to a report by Fitch Ratings. Fitch predicts that this upward trend in GCC debt capital markets (DCMs)...
Saudi Arabia’s Public Investment Fund (PIF) has reached out to bond investors for the second time this year, continuing its efforts to invest billions of dollars as part of a strategy to reduce the economy’s dependence on oil. PIF is currently accepting orders for a sale of benchmark-sized, U.S. dollar-denominated seven-year Islamic bonds, known as...