By: Ahmad Awad
Kuwait – Mubasher: The country will issue international bonds in the beginning of 2017 with a value reaching KWD 3 billion ($10 billion), the finance minister of Kuwait, Anas Al-Saleh said.
Since April, the Central Bank of Kuwait has issued bonds, on behalf of the government, worth KWD 1.3 billion to finance the budget deficit, Al-Saleh added on the sidelines of a conference held on Tuesday for developing the bonds market.
The finance ministry is coordinating with the central bank so the local bonds don’t form a competitor to funding the private sector and negatively affect the liquidity of the banking sector.
Al-Saleh clarified that the public debt instruments until 19 October amounted to KWD 2.9 billion of which KWD 1.5 billion represents existing bonds.
Translated by: Ingy ElSafy
