General view of Bahrain World Trade Center in Manama, Bahrain, February 21, 2019. REUTERS/Hamad I Mohammed
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Bahrain is planning to return to international bond markets this year for the first time since the kingdom's Gulf allies pledged a $10 billion package to help repair its finances and support its currency, according to people familiar with the matter.Bahrain delayed plans to sell bonds earlier this year after taking measures to cut spending and saying it intended to balance its budget by 2022, two people said.Bahrain's finances came under pressure after the 2014 oil-price slump.International Monetary Fund estimates that include extrabudgetary expenditures show Bahrain will run a deficit of 8.4 percent of economic output in 2019 and 7.7 percent next year, according to a statement issued Tuesday after its Article IV consultation with the kingdom.
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