General view of Bahrain World Trade Center in Manama, Bahrain, February 21, 2019. REUTERS/Hamad I Mohammed
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Bahrain said it would receive about $2.3 billion this year from a five-year support package provided by its Gulf Arab allies as the island kingdom seeks to reduce its budget deficit and debt. The sum is roughly in line with the amount received in 2018, according to Bahrain's Finance Ministry. Bahrain will receive $1.761 billion in 2020, $1.846 billion in 2021, $1.421 billion in 2022, and $650 million in 2023, the statement said.Bahrain's Eurobonds due 2028 have rallied this year, pushing the yield down about 1 percentage point to 6 percent Thursday, according to data compiled by Bloomberg.
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