Gulf averts Bahrain debt crisis with aid package

摘要

Rich Gulf nations have largely removed the risk of a debt crisis in BAHRAIN - and strengthened their own reputation for economic management - with a US$10bn aid package tied to fiscal reforms, analysts and fund managers said on Friday. Saudi Arabia, the United Arab Emirates and Kuwait said late on Thursday they would extend the aid to help fill Bahrain's funding requirements. A source said it would be in the form of a long-term, interest-free loan provided in stages.