Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Bahrain's foreign-currency reserves tumbled 11 percent in February, extending a decline that has fueled speculation that the island kingdom would either tap international bond markets soon or seek financial support from other Gulf Arab monarchies.Bahrain, a close ally of Saudi Arabia and home to the U.S. Navy 5th Fleet, has been more vulnerable to slumping oil prices and regional political instability than richer Gulf Cooperation Council states. The latest data comes nearly a month after the International Monetary Fund warned that Bahrain needs to make significant spending cuts to restore stability to its budget and improve investor confidence.IMF officials have also noted Bahrain's ability to raise money from bond markets as a measure to support foreign reserves and maintain the peg.
FOLLOW THIS ARTICLE