NO. 11


Financial and Banking News

Budgets & Revenues

Debt Write-off Is Centerpiece of Kuwaiti Reform Package

The Kuwaiti Government has accepted in principle a wide-ranging package ofeconomic reforms aimed at revitalizing the domestic economy which has as itscenterpiece a write-off of bad debts owed by "small" borrowers to thelocal commercial banks. Since 1986 the local banks have used a Central Bankscheme - the Difficult Credit Facilities Settlement Program (DCFSP)...