Saudi Finance Minister expects domestic debt market to grow further

We have reformed the capital markets both on the equity side and the debt side, and the debt markets liquidity has grown by about 200% during 2020: minister

  
Saudi men are seen next to a logo of the Future Investment Initiative ahead of the opening ceremony of the fourth annual conference in Riyadh, Saudi Arabia January 27, 2021.

Saudi men are seen next to a logo of the Future Investment Initiative ahead of the opening ceremony of the fourth annual conference in Riyadh, Saudi Arabia January 27, 2021.

REUTERS/Ahmed Yosri

DUBAI - Saudi Finance Minister Mohammed al-Jadaan said on Wednesday he expects Saudi Arabia's domestic debt markets to become more liquid after a large expansion last year.

"We have reformed the capital markets both on the equity side and the debt side, and the debt markets liquidity has grown by about 200% during 2020, and we’re likely to see even more growth in that area because the market has a depth (and) investors are looking for safe yields and this market provides that," he said.

Jadaan was speaking at the Future Investment Initiative (FII) conference in Riyadh.

(Reporting by Davide Barbuscia) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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