"If Finance Minister al-Jadaan's plans are for merely $32 billion of reserves drawdown then, following a $27 billion reduction in March alone, that means almost all the remainder will be covered by new sovereign debt issuance, assuming there are no further privatisations, because of market conditions," Hasnain Malik, head of equity strategy at Tellimer, said.

Source: International New York Times April 29, 2020 07:41 UTC