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​Further Bond Issue Planned by Saudi Arabia

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After the successful launch of its first sovereign bond sale back in October last year, Saudi Arabia is set to launch a second issue as early as February.

The country which is the world’s largest oil producer, was dramatically affected by the recent collapse of energy prices and has been taking steps like many others in the middle east, to diversify their economy and become less reliant on oil moving forward.

Thanks to strong investor demand, the kingdom raised $17.5 billion, surpassing the previous record for a developing nation of $16.5billion set by Argentina in April 2016.

It was revealed recently that it would take Saudi Arabia 70 years to sell all of its oil and with climate-change regulations and technological advancements potentially rendering oil less valuable, there are concerns it could go unrealized.

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Can the Saudi economy reduce it's dependancy on oil?

With experts predicting crude-oil-demand growth is to slow over the next three decades combined with over two years of low oil prices, without diversification, the kingdom’s ability to quickly turn around its economic fortunes will potentially be hampered considerably.

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