DUBAI (Reuters) – The UAE government will be in the market next year to issue more dollar bonds, an official at the UAE Ministry of Finance said on Wednesday, adding that it was working on plans to issue local currency bonds.
Younis Al-Khoury, Undersecretary of the Ministry of Finance, said that the local currency bonds will be issued at the appropriate time, noting that there is no specific date for the next issuance in dollars.
The UAE entered the debt markets for the first time a week ago to raise $4 billion.
The UAE federal government has not issued any bonds before, but some of the seven emirates of the country did, especially the capital Abu Dhabi and Dubai.
(Press reporting by Lisa Barrington and Saeed Azhar – Prepared by Marwa Salam for the Arabic Bulletin – Editing by Suha Jado)