VOL.XXXVI

NO.49

6-SEPTEMBER-1993

Financialand Banking News

KUWAITI FINANCE

KuwaitiAssemblyTakesHistoricVote On Debt Settlement

Program

Kuwait's National Assembly has passed a law setting out the

terms under whichthecountry'sdebtorswilldischarge theirliabilities.Thedebts,arisingfrom the Suq al-

Manakh crash of 1982andfromtheIraqioccupationof 1990-91,havehobbledthe local economyfor 10 years and

cast a shadow over all areas of financial activity. The new law,which was passed on 31 August,involves a...