Middle East Economic Survey

VOL. XLIX

No 49

4-Dec-2006

KUWAIT

Currency Fluctuations Cost Kuwait $3.5Bn In 2005-06

Kuwaits Reserve Fund for Future Generations (RFFG) has incurred a loss of KD1bn ($3.46bn) from currency fluctuations in fiscal 2005-06, which ended on 31 March 2006, according to a report by Kuwaits Audit Bureau, carried in the daily al-Qabas of 30 November. The report adds that the RFFG had incurred similar losses from currency movements since 1995. The Kuwait Investment Authority...