Middle East Economic Survey

VOL. LIII

No 2

11-Jan-2010

KUWAIT

Kuwait Parliament Votes To Bail Out Losing Investors

The old adages say that theres no such thing as a free lunch, and you cant have your cake and eat it, but conventional wisdom appears to have been turned on its head in Kuwait. On 6 January the Kuwaiti parliament approved a bailout bill worth KD6.7bn ($23bn) for its indebted citizens. The move was made despite strong government opposition and stern warnings from Minister of Finance...