The recent attacks directed at Saudi oil infrastructure did not leave any meaningful damage, but they did push up global oil prices earlier this week and highlighted the lingering risk to the economic outlook from such incidents. Meanwhile, the Saudi sovereign wealth fund, PIF, secured a $15bn credit facility this week which will at least partly be used to drive investment in the domestic economy to make up for struggling foreign investment. And finally, while Egypt looks to be one of the more vulnerable EMs to rising sovereign bond yields, we think the risks are limited and that the public debt-to-GDP ratio will continue to fall.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services