Riyadh: Qatar’s Government Facing $5.5 Billion in Bond and Sukuk Repayments in 2024
In a financial challenge for Qatar’s government, bonds and sukuk maturing in 2024 have reached a total of 20.3 billion riyals ($5.5 billion), as reported by the central bank.
Breakdown of Government Bond Repayments
Data from the nation’s financial institution revealed that this year’s government bond repayments include stakes worth 1.7 billion riyals for a 7-year term due mid-April, amounting to a total of 14.45 billion riyals. The 3-year term bonds reached 950 million riyals, while the 5-year term totaled 11.8 billion riyals.
Sukuk Due in 2024
Sukuk maturing in 2024 amounted to 5.85 billion riyals, with sukuk worth 2.95 billion riyals for terms of five and seven years due in the middle of the current month.
Qatar Central Bank’s Treasury Bills and Sukuk Repayments
Treasury bills and sukuk of the Qatar Central Bank due in 2024 amounted to 16.3 billion riyals. The breakdown revealed that 1.5 billion riyals of securities mature in April, with the majority totaling 7.7 billion riyals scheduled for maturity in May. Amounts slated for June, July, August, and October totaled 1.3 billion riyals, 2 billion riyals, 3.3 billion riyals, and 1.5 billion riyals, respectively.
Total Public Debt and Budget Surplus
The total value of Qatar’s local debt instruments, including bonds, sukuk, and treasury bills, amounts to 132.7 billion riyals, representing 39.5 percent of the total public debt of 336 billion riyals. In March, the Ministry of Finance announced a 1.4 billion riyals surplus in Qatar’s budget for the fourth quarter of 2023, bringing the total surplus to 43.1 billion riyals. Revenues totaled 55.6 billion riyals, down 10 percent from the previous quarter, while expenses rose to 54.2 billion riyals.
The ministry emphasized that the budget surplus from the third quarter would be directed to repay government debts and enhance reserves.