The Central Bank of Bahrain announced that the new issue of weekly Government Treasury Bills given out by the Central Bank of Bahrain on behalf of the Government of Bahrain has been oversubscribed.

Public debt fixed at BD 11.45 billion in January 2019, backed by the effects of the fiscal balance program funded by Gulf countries, the Central Bank of Bahrain said on Monday.

Low oil prices increase the credit challenges of the Gulf Cooperation Council (GCC) states, especially Saudi Arabia, Kuwait, Oman and Bahrain, said Moody's credit ratings agency.

Fitch Ratings has affirmed Bahrain's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-' with a Stable Outlook.

Bahrain's cabinet on Monday approved a draft state budget for the next two years that projects a further reduction in its deficit to reach $1.63 billion by 2020 as part of a fiscal reform programme.

The oil crash came and went but the debt pile it left across the Gulf is still growing, leaving the region’s energy-dependent economies more vulnerable next time a crisis strikes, reported Bloomberg.

The government said its funding needs until 2022 amount to about 20 billion US dollars, and Gulf financial support covers (50%) of this need.

Remittances by foreign workers in Bahrain amounted to about 4 million dinars ($10 billion) within 4 years only, which adds new burdens to the country.

Just as the political decision in Bahrain is dependent on Saudi Arabia, now the economic decision depends on Riyadh’s conditions as well after a new grant worth 10 billion dollars was provided to the island kingdom.

Saudi Crown Prince Mohammed bin Salman Al Saud expressed support for what he described as "serious reforms" made by Bahrain to tackle the financial crisis.

Bahrain's King Hamad bin Isa Al-Khalifa hinted on Wednesday (October 3, 2018) that his country would remain dependent on support of Gulf states until the feasibility is proved of the oil discovery announced by Bahrain earlier this year.

Joint statement by Ministers of Finance of Saudi Arabia, United Arab Emirates, Kuwait and Bahrain said reviewed options for providing necessary support to enhance the stability of public finance.

The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait and the Kingdom of Bahrain reviewed options to providing the necessary support to enhance the stability of public finance and further stimulate economic growth in Bahrain.

Gulf finance ministers said on Wednesday they would support Bahrain’s financing needs after reviewing its proposed fiscal balance programme at a meeting in Manama.

Bloomberg economic news agency said that Bahrain and its allies from the Gulf states are making progress in the aid program to help Bahrain reform its financial situation and avoid a devaluation that could trouble neighboring markets.

Rating agency Moody's downgraded on Thursday the government of Bahrain's long-term issuer ratings to B2 from B1 and maintained the negative outlook. Moody's expected Bahrain's debt burden to rise to around 100% of GDP

Central Bank of Bahrain (CBB) said it managed to borrow 185 million on behalf of the Government of Bahrain. The bank said that the Government Development Bonds issued by the CBB on behalf of the Government of the Kingdom of Bahrain were covered.

Central Bank of Bahrain (CBB) said it managed to borrow 185 million on behalf of the Government of Bahrain. The bank said that the Government Development Bonds issued by the CBB on behalf of the Government of the Kingdom of Bahrain were covered.

The amount of support to be provided by “Saudi Arabia, the United Arab Emirates and Kuwait” hasn’t been announced. However, the ruling family in Bahrain doesn’t seem optimistic regarding the joint statement issued by the 3 states.

The Bahraini Minister of Finance Ahmed bin Mohammed Al Khalifa has confirmed that Bahrain will receive financial support after the dinar sank to a 17-year low.