Amid Growing Debt, Oman Seeks IMF Technical Assistance

Requesting technical assistance from the International Monetary Fund (IMF) underscores Oman’s commitment to reduce its growing debt dependence, though doing so will still require unpopular and socially disruptive cuts to state spending. On July 6, the IMF said that Oman had asked the fund for technical assistance to help the government put together a medium-term debt strategy and implement a promised fiscal consolidation plan. Omani government bonds rose on July 7, driven by the news of Muscat requesting technical support. ...