Saudi Arabia eyeing rare $10bn sovereign loan: Report

Saudi Arabia is reportedly in discussions with Wall Street banks to secure a rare $10 billion sovereign loan. This move aims to fund Crown Prince Mohammed bin Salman’s economic transformation plan, which faces headwinds from lower oil prices and lackluster foreign investment. The kingdom is scaling back some ambitious projects, like the futuristic city of Neom, and is contending with a growing budget deficit. Despite these challenges, Saudi Arabia is capitalizing on strong investor demand for its debt, which is considered safe due to the country's low overall debt-to-GDP ratio.