Financial and Banking News
BUDGETS AND REVENUES
Debt Settlement Will Cost Kuwaiti Government $900mn in Interest in 1992
The Kuwaiti Government will pay the commercial banks $900mn during 1992 asinterest on the bonds it issued earlier this year to buy out the banks' bad debtportfolios. Figures released by the nine banks which have participated in thebond-for-bad debt swap show that bonds worth KD5.443bn ($18.2bn) have beenissued. The government has agreed an...