Kuwait set to settle local bonds worth KD 160 mln

Kuwait set to settle local bonds worth KD 160 mln

KUWAIT CITY, May 6: Kuwait is set to settle local bonds totaling 160 million dinars during May and August 2024. These bonds were initially issued by the Ministry of Finance in 2014 and 2017 to address the state’s general budget deficit, reports Al-Anba daily quoting responsible sources. In May 2024, the first batch of bonds, …KUWAIT CITY, May 6: Kuwait is set to settle local bonds totaling 160 million dinars during May and August 2024. These bonds were initially issued by the Ministry of Finance in 2014 and 2017 to address the state’s general budget deficit, reports Al-Anba daily quoting responsible sources. In May 2024, the first batch of bonds, valued at 10 million dinars, was repaid. This includes traditional bonds offered on May 1, 2014, and Islamic and conventional bonds issued on May 10, 2017. The remaining 150 million dinars will be repaid by August 21, 2024, comprising 40 million dinars in Islamic bonds and 60 million dinars in conventional bonds.

Furthermore, Kuwait holds global bond obligations worth 1.370 billion dinars, due for repayment on March 20, 2027. These global bonds, issued on March 20, 2017, carry a fixed interest rate of 3.5%. The total debt, encompassing both local