Kuwait’s wealth fund to sell USD30b assets to cover deficit

12 Oct 2015

(MENAFN) Kuwait’s sovereign wealth fund is considering selling assets of about USD30 billion to cover a state budget deficit caused by low oil prices, Al-Anbaa reported, citing unnamed sources.

The Kuwait Investment Authority (KIA), which is estimated to have more than USD500 billion of assets, is studying whether to liquidate assets that generate annual returns of below 9 percent.

The KIA’s money is invested across the world, from the US to Europe to China, in various asset classes including bonds, equities and real estate. The source did not specify which asset classes might be sold.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more