Kuwait scrambles to boost coffers with up to $16bln debt plan – ZAWYA

Kuwait scrambles to boost coffers with up to $16bln debt plan – ZAWYA

kuwait scrambles to boost coffers with up to $16bln debt plan kuwait faces economic contraction, widening deficit    close-up of kuwaiti bank notes (toned). image used for illustrative purpose.kuwait- kuwait plans to issue between 4 billion and 5 billion dinars ($13 billion to $16 billion) in public debt by the end of the fiscal year ending march 2021 if parliament approves a long-debated debt law, a government document seen by reuters showed.facing one of the worst economic crunches in the oil-exporting gulf region, kuwait is scrambling to boost state coffers badly hit by the coronavirus crisis and low crude prices, rapidly depleting its general reserve fund (grf) to plug a budget deficit.a parliamentary committee is due to vote on the law - which would allow kuwait to tap international debt markets - on sunday ahead of putting it to the elected assembly for approval.facing one of the worst economic crunches in the oil-exporting gulf region, kuwait is scrambling to boost state coffers badly hit by the coronavirus crisis and low crude prices, rapidly depleting its general reserve fund (grf) to plug a budget deficit.kuwait- kuwait plans to issue between 4 billion and 5 billion dinars ($13 billion to $16 billion)