Kuwait may issue up to $9.95bn debt to cover 2016/17 deficit

It will also borrow up to KD2bn in debt from the domestic market

Kuwait arrests 47,000 expats in three months as crackdown continues

Kuwait plans to issue up to KD3bn ($9.95bn) in US dollar-denominated bonds and sukuk in international markets to help plug its budget deficit for the current 2016-17 fiscal year, the finance minister said on Sunday.

It will also borrow up to KD2bn in debt from the domestic market in conventional and Islamic instruments, said Anas al-Saleh, who is also deputy prime minister and acting oil minister, according to an emailed speech.

The remainder of the expected KD9.5bn dinar budget deficit for the current fiscal year, which began on April 1, will be covered by drawing down funds from the general reserve, he said in the speech.

Comments

comments