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Kuwait Events

Kuwait IFA gets to reschedule paying off its $65m debt

Kuwait IFA gets to reschedule paying off its $65m debt
Kuwait's IFA gets more time to pay off $65m debt burden. This will now be paid off over 5 years as part of agreement with a 'foreign bank'.

Kuwait's cabinet has new oil, finance minister

Kuwait's cabinet has new oil, finance minister
Kuwait’s emir approved a new cabinet that included new ministers of oil and finance for the OPEC member state which is mired in its worst economic crisis in decades.

Expats take out over 4 billion Kuwaiti dinars in loans

Expats take out over 4 billion Kuwaiti dinars in loans
Banking sources have estimated that expats have taken out a total of 4 billion Kuwaiti dinars in loans.

Kuwait banks: no waiver of loans for expats

Kuwait banks: no waiver of loans for expats
While many expats have started leaving Kuwait due to expired visas, some banks have begun the process of prosecuting those with unpaid loans.

Moody’s downgrades Kuwait’s credit rating to A1

 Moody’s downgrades Kuwait’s credit rating to A1
Moody’s Investors Service downgrades Kuwait’s credit rating by two notches to A1 from Aa2; changes outlook to stable.
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