Home GCC Kuwait Kuwait finance ministry to mull halving $66bn debt ceiling The finance and economic committee has also suggested reducing the period for borrowing by Bloomberg August 31, 2020 Kuwait’s government will study an idea to lower by half the ceiling on public debt as part of proposed amendments to a law it’s struggled to push through parliament, Finance Minister Barak Al-Sheetan said. The finance and economic committee has also suggested reducing the period for borrowing, Al-Sheetan said Sunday after meeting lawmakers. The panel has proposed reducing the limit from KD20bn ($66bn) to KD10bn, said the committee’s head, Safa Al-Hashem. Liquid assets in Kuwait’s Treasury will soon be depleted if oil prices don’t improve and if the government can’t borrow in local and international markets, the minister has said. The draft bill currently allows for the sale of 30-year bonds over 10 years from the approval date. Tags Debt Draft Bill Finance Ministry Kuwait Treasury 0 Comments You might also like Sheikh Ahmad Abdullah al-Ahmad al-Sabah is Kuwait’s new prime minister Kuwait-Saudi rail link set for completion in 2028 Kuwait announces 5-day Eid al Fitr holiday Kuwait oil company Q8 to buy 50% of Italian biodiesel producer EcoFox