NO. 37


Financial and Banking News

Budgets & Revenues

Kuwaiti Debt Settlement Will Cost up to $19bn, Excluding Interest

Kuwait's debt settlement program, which was approved by an Amiri Decree on 11May, will cost the government at least $1bn a year for the next five to tenyears and could represent a significant budgetary burden for several yearsafter that. Many details of the 20-year program have yet to be worked out, butduring its first few years, annual interest on bonds...