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Sovereign Contingent Liabilities in the GCC

Fitch Ratings expects government-related-entity (GRE) debt to continue to rise in the Gulf Cooperation Council (GCC) economies as governments use GREs to drive economic development and support budgetary priorities at a time of weak oil revenues.  Economic contraction in 2020 will exacerbate leverage ratios and magnify the risks of GRE…

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