Currency risks rising in Oman and Bahrain: Moody’s
While GCC countries are well-positioned on average to withstand external payment pressures, Bahrain and Oman are more exposed due to their low levels of foreign exchange reserves and large current account deficits, according to Moody’s Investors Service. It said, in 2016, Oman had the highest current account deficit among GCC countries, which Moody’s estimates at 20.1 per cent of GDP, and the highest external break-even oil price at USD78.4 per barrel.
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