Low overall risk for Oman’s
creditworthiness, but lower oil
prices could potentially reduce
government revenue generation.
However, the government can
leverage its foreign exchange
reserves and wealth funds to settle
debt obligations should they rise.
Comfortable levels of foreign
exchange reserves will help sustain
Omani Rial’s peg to the US dollar.
The US dollar is forecasted to
remain firm against major
currencies in 2015-16.
Overall, Oman’s banking
sector is at low risk.
Although the economy
remains highly dependent on
hydrocarbon revenues and
therefore vulnerable to changes in
oil and gas prices, Oman’s growing
plans to diversify its economy
through its tourism and services
sector keeps the country’s
economic structure safe.