GCC Troika on Bahrain Bailout Meet with its Counterpart

Ministers of finance of Saudi Arabia, Kuwait and the Emirates met with their Bahraini counterpart, regarding the developments of the financial balance program for the Kingdom of Bahrain, which the Arab Monetary Fund is monitoring, as an advisory body.

During the meeting, the latest developments on the program’s initiatives were reviewed, in light of the effects of the pandemic on the implementation of the program, to achieve the goal financial balance between government revenues and expenditures, in the year 2024.

The Ministers welcomed the efforts made by the Government of the Kingdom of Bahrain, in implementing the program, and the progress made despite the challenges posed by the crisis.

They reaffirmed their support for the efforts of the Kingdom of Bahrain to implement further reforms to enhance the stability of public finances and support sustainable economic growth.

The ministers also reviewed the progress of implementing the initiatives, within the framework of the program, as the Kingdom of Bahrain made unremitting efforts to enhance revenues and raise the efficiency and rationalization of government spending.

The three countries had provided financial support for the financial balance program for the Kingdom of Bahrain, during the past period, in accordance with the Agreement on Framework Arrangements for Financial Cooperation on the program, signed in 2018 between the Kingdom of Bahrain and the three countries, as well as the Arab Monetary Fund as an advisory body.

The three countries confirmed their continued support for the efforts of the financial balance program, in the Kingdom Bahrain, leading to the achievement of the objectives set for the program.