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The Public Debt Department of the Saudi Ministry of Finance expected an injection of fund at $11 billion following J.P. Morgan's decision to include Saudi Arabia’s Issues in its Emerging Markets Index, to be conducted over a period of 9 months on a monthly basis.
Saudi’s Issues will account for 3.1% of the weight of the indices, according to J.P. Morgan's announcement, which will add support to the investor base as well as improve liquidity levels for the Government's Issues and the Issuances of Government-owned companies.
This development is in line with the strategic initiatives of the Ministry of Finance's Debt Management Office (DMO) to ensure Saudi's sustained access to global debt markets.
As a result, His Excellency the Minister of Finance, Mr. Mohammed Al-Jadaan, underlined that this listing represents a major step forward in Saudi’s position in the global debt markets and reflects confidence in the Saudi economy and its financial position within the framework of the Financial Sector Development Program. This is one of the Saudi Vision 2030’s programs developing an advanced financial market to increase liquidity and facilitate access to significant capital in the global market.
Source: (Al-Arabiya.net, Edited)