Saudi Arabia Could Turn to Islamic Debt Markets

The transcript discusses Saudi Arabia's strategy to diversify its borrowing methods, including the use of sukuk or Islamic bonds, due to the under-supplied sukuk market. The country aims to alleviate pressure on local liquidity and address its large budget deficit. Additionally, the GCC finance ministers and IMF Managing Director Christine Lagarde met in Riyadh to discuss regional economic issues, focusing on reforms to counter declining oil revenues. A key topic was the introduction of a value-added tax in 2018.

What was one of the main issues discussed during the finance ministers' meeting?

What is the significance of introducing a value-added tax in 2018 for the GCC countries?