Kuwait edges closer to bond as options run out

By Mariam Meskin
22 Jul 2020

Gulf sovereigns are set to raise record levels of debt this year thanks to the double shock of Covid-19 and an oil price slump, but one name is on investors lips: Kuwait. Instead of relying on shrinking reserves, the sovereign, which has not printed since its international bond debut in 2017, is expected to pass a parliamentary law increasing its debt ceiling, according to experts.

“The main issue in Kuwait right now is the imminent approval of the debt law, which has been under discussion for a couple of years,” said a Kuwait-based senior analyst. “Due to pressing current circumstances, they have accelerated this effort. Parliament will meet again to discuss the law ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial