Oman Plans 2021 Borrowing as Low Oil Price, Virus Batter Economy.

The Persian Gulf state is looking into borrowing that will cover 73%, or 1.6 billion rials, of the country's 2.2 billion rial ($5.7 billion) shortfall, with the remaining 600 million rials to be drawn from its reserves, according to a post on Twitter by state-run Oman News Agency on Friday. Oman has been hammered by the coronavirus pandemic as well as lower crude prices and has raised the possibility of assistance from its Gulf neighbors. [Extracted from the article]