NO. 38


Financial and Banking News

Regional Banking

Shaikh Salim Rules Out Devaluation of Kuwaiti Dinar

The Governor of the Central Bank of Kuwait, Shaikh Salim 'Abd al-'Aziz al-Sabah,has ruled out the devaluation of the Kuwaiti dinar as a remedy for the largebudget deficit. In an interview with the Kuwait daily Saut al-Kuwait of 17 June, Shaikh Salim said that such a measure would reduce the purchasing power of thecurrency inside Kuwait and would weaken confidence in the...