Bahrain will likely need further Gulf financial support -Fitch

DUBAI – Bahrain will likely need further financial support from its Gulf neighbours despite reform measures, Fitch Ratings’ lead Bahrain analyst Toby Iles said on Monday.

Iles said Bahrain, a small oil producer, was likely to likely need the support from 2023 onwards and cited Fitch’s oil price assumption.

In 2018, Saudi Arabia, the United Arab Emirates and Kuwait came to Bahrain’s aid with a five-year zero-interest $10.25 billion package to help it avoid a credit crunch.

(Reporting by Yousef Saba; Editing by Catherine Evans) ((Yousef.Saba@thomsonreuters.com; +971562166204))

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