Oman is more than halfway toward meeting financing needs in 2021: Bloomberg

New York: Bloomberg news network has said that the Sultanate of Oman has gone a long way in meeting its funding requirements for 2021.

Quoting the Ministry of Finance’s monthly report issued recently, Bloomberg said that Oman is more than halfway toward meeting its total financing needs of OMR4.2 billion ($10.9 billion) for 2021. It said that the total fund received from funding agencies at the end of March 2021 stood at OMR2.37 billion.

“The government has OMR1.83 billion left to raise so far after borrowing OMR1.77 billion and withdrawing OMR600 million from Oman Investment Authority, as of end-March 2021”, said Bloomberg quoting the Finance Ministry.

The Ministry explained in its monthly report that, by the end of February 2021, as many as OMR144 million due towards addressing public debt (loan interest) has been paid, along with OMR563 million as part of original loan.