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Oman has the means to maintain its currency peg and has no plans to change it even though the decline in oil prices has hurt its finances, central bank Governor Tahir al-Amri said. Oman's gross foreign currency reserves, which stood at $19.6 billion at the end of January, are enough to cover nearly nine months' worth of imports, Amri said in an interview Tuesday. As a result, government debt-to-GDP went from 5 percent in 2014 to 41 percent at the end of 2017, according to Amri.Amri said Oman can secure enough funding to cover its external financing needs this year.Amri said Oman is also in discussions with major international strategic partners to explore ways to deepen financial and commercial transactions.
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