MANAMA: The GCC’s pledge of support to Bahrain is likely to restore market normalcy, but it is also likely to become explicit and conditional going forward from unconditional and implicit previously, according to Bank of America Merrill Lynch (BofAML) Mena economist Jean-Michel Saliba.
Mr Saliba told the GDN that this is a significant development as the latter allowed Bahrain to borrow from the markets without a clear fiscal consolidation anchor .