GCC states' foreign assets growth to slow in 2012

Institute of International Finance says countries will hold $2.02trn of assets by end of year
By Bloomberg
Mon 26 Mar 2012 08:28 PM

Gulf Cooperation Council
will slow their accumulation of foreign assets this year, George Abed,
the Institute of International Finance’s director for Africa and the
Middle East said.

Saudi Arabia, Qatar, Bahrain, the UAE and Oman will
together hold $2.02tn in foreign assets at the end of 2012, up 12
percent from 2011, George Abed said in a presentation at a conference
in Doha, Qatar, on Monday.

Total foreign assets grew 14 percent between 2010
and 2011, according to data he presented.

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