Investors face setback as Kuwaiti finance committee scraps draft debt bill

AdobeStock_Kuwait_flag_575x375_22July2020
By Mariam Meskin
18 Aug 2020

Investors patiently awaiting Kuwait’s return to the debt markets could be disappointed after the country’s parliament rejected a contested debt law and forced it back to a committee. The setback places the Gulf monarchy in a difficult position, as experts say its financing options are fast running out.

The law would have allowed Kuwait to raise up to $65bn in debt over 30 years, following its debut in international bond markets in 2017.

On Wednesday, its parliament passed the matter back to the parliamentary economic and finance committee for two more weeks of study and analysis. 

The bill ...

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