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IFN UK Forum 2022

Sovereign sukuk issuance will decline further in 2022 amid lower financing needs of major issuers

Global sovereign long-term sukuk issuance, including by multilateral development banks (MDBs), fell in 2021 due to the sharp drop in financing needs for major sukuk-issuing sovereigns. This decline followed record-high sovereign sukuk issuance volumes in 2020. We expect issuance to decline further in 2022 as government deficits narrow further amid higher oil prices, lower coronavirus-related expenditures and accelerating economic activity in core sukuk-issuing countries.

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