FX.co ★ Tumbling oil prices make Saudi Arabia issue first sovereign debt since 2007

Saudi Arabia may issue sovereign debt this year for the first time since 2007 as nosediving oil prices sent its gold and forex reserves plunging.
Assets of the biggest Arab economy’s central bank tumbled by 76 billion riyals ($20 billion) in February, the largest monthly drop since 2000. According to International Monetary Fund’s estimates, the country has a debt-to-GDP ratio of about 2.6 percent, which is among the lowest in the world.