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PLAN TO WRITE OFF INTEREST

Kuwait debtors' bailout to cost $2.6bn

Dubai, April 2, 2013

 

A government bailout of Kuwaiti debtors is expected to cost 744 million dinars ($2.61 billion), finance minister Mustapha Al-Shamali said on Tuesday.
 
The government, under pressure from members of parliament, is discussing with lawmakers a plan to write off the interest on Kuwaiti citizens' personal bank loans taken out before the end of March 2008.
 
Under an initial proposal, the government would buy the loans from banks, pay off the interest and reschedule the loans. - Reuters



Tags: Kuwait | loan | debt | interest | Bailout |

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