DUBAI: Saudi Arabia’s National Debt Management Centre has named Hani al-Medaini as its acting chief executive, it said in a tweet on Saturday.
The move came after the Public Investment Fund, the kingdom’s sovereign wealth fund, hired the former CEO of the debt management centre, Fahad al-Saif, as its new corporate finance head in December.
Saudi Arabia raised $5 billion in a dual-tranche bond sale with tenors of 12 and 40 years in January, as it seeks to plug a fiscal deficit. In February, it raised another 1.5 billion euros in a two-tranche bond deal.
Supported by a rebound in oil prices, Saudi Arabia’s fiscal position looks on track to improve significantly this year.