An oil installation stands in Saudi Arabia’s northeastern Gulf port of Jubail. The world’s biggest oil exporter hasn’t issued debt with a maturity of more than 12 months for eight years, choosing instead to run down reserves when necessary to fund expenditure. Photographer: Bilal Qabalan/AFP/Getty Images Saudi Arabia may issue sovereign debt for the first time since 2007 this year after oil’s decline sent its cash reserves plunging, according to Ashmore Group Plc. Assets of the biggest Arab economy’s central bank tumbled by 76 billion riyals ($20 billion) in February, the largest monthly drop since at least 2000. The country has a debt-to-GDP ratio of about 2.6 percent, according to International Monetary Fund estimates, among the lowest in the world, and may now take advantage of record low interest rates and ample bank liquidity, said John Sfakianakis, a Riyadh-based director at Ashmore and former chief economic adviser to Saudi’s […]