The International Monetary Fund estimates that Kuwait's financing needs wil...
DUBAI - The International Monetary Fund estimates that Kuwait’s financing needs will amount to some $180 billion over the next six years given the Gulf state’s “modest” fiscal measures and expectations of lower oil prices.
“Subdued oil prices and output are weighing on near-term growth prospects and external and fiscal balances,” the Washington-based international crisis lender said in a statement describing its preliminary findings at the end of an official visit to the country. But it has not tapped global debt markets since its debut $8 billion debt sale in 2017, because parliament has yet to pass a law that would allow it to raise its debt ceiling and to issue debt with longer maturities.
It estimated KIA’s assets surpassed 410% of GDP by the end of last year, as one of its funds continued to receive mandatory transfers from the government and created strong returns on its assets.
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