Moody's revealed that UAE ranked first among the top 10 emerging economies in terms of the size of euro bond issuance in the first half of this year (2020), with the total value of euro bond issuances reaching about $15 billion, followed by the Kingdom of Saudi Arabia Saudi Arabia, with $12 billion worth of issuances, then Mexico, with $12 billion.
According to the agency, the value of the UAE's issuance of Eurobonds reached about $63 billion during the period from 2010 to 2019, ranking it sixth among the largest emerging economies in terms of the value of Eurobond issuance during the period, and Mexico came first with issues worth 76 One billion dollars, followed by Indonesia (75 billion dollars), and Saudi Arabia ranked fifth with total issuances amounting to about 66 billion dollars.
The agency expects euro bond issuance by emerging economies this year to record high despite challenges imposed by the Covid-19 pandemic, and estimated in a recent report to it the value of euro bond issuance at the level of emerging countries during the first half of this year at about 343 billion dollars.
The countries of the Middle East acquire the largest share of these issuances by up to 34% of the total value of euro bond issuances from emerging economies in the first half of this year, with governments turning to debt issuances to hedge the consequences of the pandemic and the decline in oil prices.
Source (Al-Khaleej Newspaper-UAE, Edited)