HomeEconomyOman’s public debt to decrease by end of July to 18.6 billion riyals
By Economy Middle East
SHARE
July 7, 2022 12:15 pm

Oman’s public debt to decrease by end of July to 18.6 billion riyals

The Sultanate will repay a financing loan before its due date
Debt
Oman's Sultan Haitham bin Tarik

Oman’s public debt is set to decrease by the end of July to 18.6 billion Omani riyals, compared to 20.8 billion Omani riyals at the end of 2021.

Oman’s Ministry of Finance announced on Thursday that Oman will repay a 512 million riyal financing loan at a high cost during the current month, before its due date.

The Omani government bought back some of the international bonds before they matured through an auction, the first of its kind in the region, with an estimated value of 269 million riyals, which was less than the nominal worth of these bonds when they were released into the market. 

The Ministry of Finance confirmed achieving savings from future interest (debt service) on loans and bonds repaid ahead of their due date, totaling approximately 127 million riyals.