Saudi Arabia expects inflows of about $11 billion into the country’s debt, following the inclusion of its international bond issues in JPMorgan’s emerging market bond indices, the finance ministry said in a statement.
Saudi Arabia, together with the United Arab Emirates, Qatar, Bahrain and Kuwait, will enter JPMorgan’s emerging market government bond indexes in 2019, the American bank announced last week.
The inclusion will be phased in over a nine-month period between Jan. 31 and Sept. 30, 2019.
The Kingdom’s bonds will have a 3.1 percent weighting in the JPMorgan indices.
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