Kuwait edges closer to bond as options run out

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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 ...

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