Riyadh – Mubasher: Saudi Arabia could issue new international bonds as soon as January, President of the Ministry of Finance’s Debt Management Office (DMO), Fahad Al Saif, reportedly told Reuters on Wednesday.

This comes as part of plans by the Saudi government to raise $32 billion through debt instruments in 2020.

“We are very much ready, as early as the first of January, to issue our international bonds subject to market conditions of demand and supply,” Al Saif was quoted as saying.

Instruments issues locally in the Saudi market are expected to make for 55% of the total debt issuance plan, while the remainder is set to be raised internationally.