NO. 44


Financial and Banking News

Industrialized Countries Move Quickly to Freeze Kuwaiti Assets

Western industrialized nations moved swiftly to freeze Kuwaiti overseasassets in the wake of the Iraqi invasion of Kuwait. US President George Bushsigned two Executive Orders on the morning of 2 August, US time, less than 12hours after news of the invasion broke. The first blocked Iraqi governmentproperty in the US and prohibited Americans from trading with Iraq, and thesecond...