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Lower oil prices to propel GCC’s debt capital market to $1tr in 2025
The GCC debt capital market (DCM) issuances will continue to rise through 2024 and 2025 to hit $1 trillion outstanding while the UAE’s share is forecast to cross $300 billion in 2024-2025. The region’s DCM saw a 7.0 per cent increase to $940 billion by the end of Q1 2024, according to Fitch Ratings, which expects the growth to be slower in the remaining quarters this year. Potentially lower oil prices, high interest rates and initiatives to develop the debt capital markets will drive growth in issuances this year. Four out of six GCC sovereigns are investment-grade and all have a stable outlook. In the last 15 ... (full story)