Kuwaiti moves to contain frustration over coronavirus impact

Kuwaiti moves to contain frustration over coronavirus impact

KUWAIT CITY – The Kuwaiti government moved to contain the frustration in a number of state sectors that are currently facing exceptional financial  problems from the repercussions of the coronavirus pandemic.

According to local media, the National Assembly and the government have agreed on a law  postponing the collection of  loans repayments. This step is aimed at easing the financial burdens of citizens, official sources said.

Quoting ministers and officials, Kuwaiti authorities and institutions also  announced a six month payment holiday on consumer and installment loans for qualifying borrowers.

Social Security and Lending funds took the initiative to review the payment of some loans in line with the government's directives and granted a number of loan borrowers opportunities similar to those available to government employees.

An informed Kuwaiti source said the Kuwaiti Emir Sheikh Nawwaf Al Ahmad Al Sabah has directed government departments and relevant institutions to move to reduce the burden of debts on citizens, after the issue had become “the talk of social media.”

The source added that some state employees have been affected by the economic impact of the pandemic despite the fact that salaries are still paid on time.

“The problem with many government employees is that they have borrowed from banks