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
More Finance & Capital Market Stories
- Kuwait's Investment Dar reaches key debt agreement
- Banks on alert over ATM fraud
- Bahrain's economy bounces back on positive outlook
- Mena inbound M&A value triples to $3.9bn
- DFM opens educational trading floor at varsity
- Egypt urban inflation hits 4-year high in Nov
- Adib honoured for SME support services
- Saudi rallies ahead of 2014 budget speech
- Qatari oil, gas to have limited impact on GDP growth
- Xerox Emirates, Asseco offer banking solutions