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Kuwait sets KD 30bn debt cap with 50-year borrowing plan

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KUWAIT: Kuwait has introduced a new financial framework with the issuance of law no. 60 of 2025 on liquidity and public debt, setting a maximum debt ceiling of KD 30 billion (or its equivalent in major convertible foreign currencies). The law also allows the issuance of financial instruments with maturities of up to 50 years, establishing a long-term legal framework for public borrowing. The law will remain in effect for 50 years from its enactment, providing a stable regulatory environment for managing public debt.

Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam stated that this law grants Kuwait greater financial flexibility by enabling access to both local and global financial markets. “This strategic approach ensures alignment with global economic developments and sustains the country’s financial stability,” she said. She added that the law is part of the government’s broader efforts to enhance financial stability and accelerate economic development in line with the 2035 New Kuwait vision. “This marks a crucial step in ongoing financial and economic reforms aimed at building a more diversified and sustainable economy that benefits both the state and its citizens,” Al-Fassam noted.

Director of Public Debt Management at the Ministry of Finance Faisal Al-Muzaini outlined the key objectives of the new law, emphasizing that it provides Kuwait with access to a variety of financial instruments through local and international markets. This allows the government to secure funding in Kuwaiti dinars or major foreign currencies, offering greater flexibility in managing public debt and liquidity.

He explained that the law also aims to develop Kuwait’s financial markets by establishing a sovereign yield curve, which will enhance the attractiveness of the country’s financial sector. This, in turn, will create a benchmark for banking and corporate debt issuances, improving financing structures and reducing borrowing costs.

Al-Muzaini highlighted that the new law will contribute to financing major development projects, including infrastructure and strategic initiatives, which will accelerate economic growth. He added that it will also stimulate the local economy by increasing investor confidence, attracting foreign investment, and fostering economic activity.

Another key aspect of the law is its potential to improve Kuwait’s sovereign credit rating, allowing the country to secure loans under more favorable conditions. Additionally, the law aims to preserve the liquidity of sovereign reserves, ensuring financial stability and enabling the government to meet its financial obligations in various economic conditions.

Al-Muzaini emphasized that this law comes at a time of rapid changes in global financial markets, where flexible access to funding is crucial for economic stability. He also highlighted that developing Kuwait’s debt markets enhances its competitiveness as a regional financial hub. “This new framework provides the government with innovative financial tools to manage public finances efficiently while maintaining a sustainable approach to balancing development needs with long-term fiscal stability,” he concluded. – KUNA

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Expert urges caution as rising humidity triggers respiratory issues

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KUWAIT: As Kuwait experiences a combination of humid and dusty weather, a health expert warns that these conditions can significantly worsen respiratory illnesses such as asthma and allergies. Northern winds often bring dust storms typical of Kuwait’s desert environment, while rising humidity levels add another layer of challenge for vulnerable individuals.

“Humid air is heavy on the respiratory system because it’s saturated with water, making breathing more difficult,” Dr Abdullah Al-Mutairi, a consultant in respiratory diseases and intensive care, told KTV news channel. When moisture fills the air, tiny particles that usually settle on the ground become airborne, aggravating symptoms for allergy sufferers. Dust also plays a major role in triggering breathing problems, he explained.

“The current weather is humid and hot, which irritates the respiratory system, especially for those with allergies or asthma,” said Dr Al-Mutairi. “People should monitor air quality and avoid going outside when it’s poor. Staying indoors in air-conditioned, enclosed spaces is much safer for them.”

People living with asthma and allergies shared their coping strategies with KTV, emphasizing the importance of staying indoors and carrying necessary medications. “If you must go out, wear a mask and carry your medicines,” advised one participant. Another warned, “Avoid sudden changes between humid outdoor air and cold air-conditioning.”

Dr Al-Mutairi also addressed concerns about post-COVID-19 respiratory sensitivity. “Severe viral infections like COVID-19 can cause individuals who never had respiratory issues to develop allergies afterward,” he said. He cautioned against the misuse of inhalers, noting they’re not typically appropriate treatments for common colds or the flu. Patients with moderate to severe asthma often experience symptoms daily or several times a week and require regular use of preventive inhalers to protect their respiratory system from external irritants.

“For mild asthma, symptoms usually occur during viral infections or extreme weather, and inhalers may only be needed during those times,” he explained. The duration of inhaler use varies depending on the patient’s severity and response, ranging from a few days to several weeks.

Importantly, he clarified that not every wheezing episode indicates asthma. Wheezing can also result from sinus infections or other viral illnesses, and inhalers are not prescribed in all cases.

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New rules to protect public money, speed up courts

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Cabinet expands criminalization for public office misuse • Brings e-filing, remote sessions to courts

KUWAIT: Kuwait’s Cabinet has approved important changes to laws aimed at better protecting public funds and speeding up the court system. Deputy Prime Minister and Minister of State for Cabinet Affairs Shareeda Al-Maousherji, shared details after the weekly Cabinet meeting held at Bayan Palace under Acting Prime Minister Sheikh Fahad Yousef Saud Al-Sabah.

The new rules widen the scope of what counts as misuse of public office, covering any illegal benefit. Penalties are stricter, especially when misuse involves government contracts or tenders. Officials will also be barred from sharing confidential information for up to ten years after leaving their jobs, with fines and possible dismissal if they break this rule.

Courts will have more authority to remove officials even if mistakes were unintentional. New provisions make fraud in government contracts a criminal offense, and intentional damage to public funds is now punishable even if no personal gain is involved. Companies can also be held accountable for crimes involving public money. Prosecutors will have the power to demand the return of funds even after criminal cases are dropped. And submitting false or misleading information can now lead to fines up to KD 10,000.

The changes also unify the definition of who counts as a public employee, extend deadlines for reporting to the Audit Bureau to 30 days, and introduce electronic ways to submit those reports. They also raise the threshold for investment disclosures to KD 250,000, with reporting moving to an annual schedule.

Digital courts

On the court procedures side, the Cabinet approved amendments to speed up civil and commercial cases and to fully embrace digital tools. From filing lawsuits to enforcing judgments, processes can now be done electronically, and remote court sessions will be allowed.

These changes come as part of the Ministry of Justice’s ongoing digital transformation. Minister of Justice Nasser Al-Sumait told the Kuwait News Agency (KUNA) last week that the ministry is in the final stages of issuing legislation that “will grant us the legal authority to fully transition to an electronic system.”

The digital rollout will focus on three key areas: filing and registering cases—including announcements and fee payments—streamlining court procedures to reduce delays, and, most importantly, ensuring smooth enforcement of rulings. Contracts with tech giants Google and Microsoft will support this transition, Al-Sumait added.

Tuesday’s amendments include higher fines for judge recusal requests. If someone wants to request a judge’s recusal, they’ll need to pay a bail of KD 200, with fines between KD 500 and KD 1,000 if the request is refused. Repeat requests to recuse the same judge won’t be allowed, and all requests must be decided within a month. The new rules appear to be aimed at protecting fairness by allowing parties to request a judge step aside if there’s a conflict of interest. At the same time, bail and fines discourage repeated or frivolous requests that could delay cases.

This balance helps speed up court proceedings while ensuring impartial judgments. The changes come as Kuwait faces a backlog of more than 81,000 appeals at the Court of Cassation — a crisis that has already prompted the formation of ten new judicial committees to fast-track case reviews. The Cabinet also reviewed several draft decrees related to agreements and cooperation with friendly countries. These will be forwarded to His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah for approval. — Agencies

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Kuwait, Somalia strengthen ties with new agreements

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KUWAIT: Kuwait and Somalia took a significant step in deepening their bilateral ties on Tuesday by signing a series of agreements aimed at boosting cooperation across diplomatic, political, and training sectors.

The agreements include the establishment of a joint committee to oversee bilateral cooperation, a memorandum of understanding (MoU) to hold regular bilateral consultations, and a cooperation pact between Kuwait’s Saud Al-Nasser Al-Sabah Diplomatic Institute and Somalia’s Institute of Diplomacy and Training. These agreements are designed to formalize and expand collaboration between the two countries.

Kuwait’s Foreign Minister Abdullah Al-Yahya and Somalia’s Foreign Minister Abdisalam Abdi Ali are seen after signing a series of cooperation agreeements during Ali's visit to Kuwait. — KUNA photos

Kuwait’s Foreign Minister Abdullah Al-Yahya and Somalia’s Foreign Minister Abdisalam Abdi Ali are seen after signing a series of cooperation agreeements during Ali’s visit to Kuwait. — KUNA photos

The signings followed a high-level meeting between Kuwait’s Foreign Minister Abdullah Al-Yahya and Somalia’s Foreign Minister Abdisalam Abdi Ali during the Somali minister’s official visit to Kuwait. The ministers reviewed the close and longstanding relationship between their nations and discussed opportunities to enhance partnership in various fields.

Regional and international developments affecting both Kuwait and Somalia were also on the agenda, reflecting the two countries’ shared interest in stability and development within the Middle East and Horn of Africa regions. His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah also received the ministers at Bayan Palace. — KUNA

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