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REUTERS
Saudi Arabia’s government has contacted banks to sell them about 20 billion riyals ($5.3 billion) of bonds in its domestic debt sale this month, the Maaal financial website reported, quoting unnamed sources. Since last August, government has been selling around 20 billion riyals of domestic bonds to banks every month to fund a budget deficit caused by low oil prices. In the last few months it has also started borrowing abroad. It raised a $10 billion international loan in April and plans a U.S. dollar bond issue in coming weeks or months.