Financial and Banking News
Kuwait Raises Interest Rates On Government Debt Bonds By 1%
The Central Bank of Kuwait will pay 6% interest on government debt bonds forthe year 1992, compared to 5% for 1991. The increase will cost the governmentKD54.4mn ($178mn at present exchange rates), taking the total interest cost for1992 to KD327mn ($1,070mn). The move will provide a welcome, if limited, boostfor the banks' income statements.
The government took over...