Oman will tap local and international debt to fill coffers

DUBAI: Oman will tap local and international debt markets to fill state coffers badly hit by low oil prices and the economic downturn caused by the coronavirus crisis, its state news agency said on Wednesday citing the finance ministry.
A relatively small crude producer burdened by high levels of debt, Oman is more vulnerable to oil price swings than most of its wealthier Gulf neighbors.
The finance ministry hired Bank Muscat and its Islamic unit Meethaq to arrange an issuance of local sukuk, Oman News Agency said.