FINANCIAL NEWS

Kuwait to offer USD9.91bn bonds

09 Nov 2016

(MENAFN) Kuwait aims to offer USD9.91bn in bonds to global investors early in the coming year.

Accordingly, Kuwait’s public debt reached 2.967bn dinars on Oct.19, while new local debt issues from April 1 to Oct.19 reached 1.38bn dinars.

Recently, National Bank of Kuwait proclaimed that growing profits from its business in Egypt will help offset any impact from the drop in Egyptian pound.

In addition, the move is predicted to lead to an increase in inflation, almost 14 percent, driving up import costs more.

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