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Kuwait plans to borrow KD 3-6bn

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KUWAIT: Kuwait plans to return to the global debt market this year and is expected to borrow between KD 3 to 6 billion during the current 2025/2026 fiscal year to finance development projects, a finance ministry official said on Monday. Director of Public Debt at the Finance Ministry Faisal Al-Muzaini said during a presentation of the new debt law that the funds will be borrowed from global and domestic markets to fund a number of development projects.

Kuwait issued a new debt law in March, putting a ceiling of KD 30 billion on public debt and maturity at 50 years. It will be the first time Kuwait returns to borrowing since 2017. Al-Muzaini however said the ratio of debt to gross domestic product (GDP) in Kuwait is minuscule at just 2.9 percent, whereas it is 60 to 70 percent in many countries. He said that the 2025-2030 five-year strategic borrowing plan will be determined by oil prices, global markets and risks associated with borrowing.

Al-Muzaini described the public debt law as one of the most important reform measures in the history of public finances for Kuwait. “This law sends a strong message of fiscal discipline and credibility to global markets. It is expected to contribute to enhancing Kuwait’s credit profile, drawing wider investor interest and advancing the country’s transition toward a diversified economy.”

Finance Ministry Undersecretary Aseel Al-Munaifi said the new debt law will stimulate the economic environment and promote foreign investments into Kuwait, besides accelerating economic growth and strengthening the banking system in Kuwait.

“The law will support the restructuring of government financing, reduce borrowing costs and strengthen Kuwait’s credit rating,” she said. “It reflects positively on the state’s borrowing capabilities under competitive conditions and helps build up financial reserves to meet commitments amid evolving economic circumstances.”

Al-Munaifi said a law regulating the issuance of sukuk, or Islamic bonds, is expected to be issued soon as it is being reviewed by authorities at the Council of Ministers. The debt law also allows the issuance of financial instruments and establishes a long-term legal framework for public borrowing.

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Kuwait envoy urges using digital tools for peace, recovery

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RIYADH: Kuwait’s Ambassador to Saudi Arabia and Permanent Representative to the Digital Cooperation Organization (DCO), Sheikh Sabah Nasser Sabah Al-Ahmad Al-Sabah, on Monday underscored the importance of employing digital technologies to support peacebuilding, humanitarian efforts and post-conflict reconstruction as pathways to stability and prosperity.

Representing Kuwait, which holds the DCO presidency for 2025, Sheikh Sabah delivered his remarks at the fifth edition of the Digital Cooperation Diplomacy series, jointly organized by the Kuwaiti Embassy in Riyadh and the DCO under the theme “Digital Tools to Enhance Post-Conflict Recovery.” The event was attended by DCO Secretary-General Dima Al-Yahya, former UK Minister of Culture and Digital Economy Lord Ed Vaizey, alongside a host of ambassadors and diplomats accredited to Riyadh.

In his speech, Sheikh Sabah stressed the urgency of deepening cooperation in the face of global challenges and advancing policies that ensure the effective use of digital tools in conflict resolution and recovery. “The participation of diplomats in this dialogue reflects their commitment to the objectives of the DCO,” he said. He reaffirmed Kuwait’s strong support for the organization’s mission to accelerate digital prosperity and inclusive growth, highlighting the importance of building a more resilient and prepared digital ecosystem through collaboration and collective action.

“The convening of this dialogue comes at an exceptional time when Kuwait attaches great importance to digital transformation as part of its Vision 2035, while working to advance the shared interests of the international community,” Sheikh Sabah said. He noted that Kuwait’s simultaneous presidency of both the DCO and the Gulf Cooperation Council this year underscores the weight of its responsibilities amid mounting global challenges. DCO Secretary-General Dima Al-Yahya, for her part, emphasized the critical role of digital technology in post-conflict recovery, noting that today’s crises have displaced more than 122 million people worldwide. “Wars and disasters tear apart institutions, erode trust and displace families,” she said.

“But digital reconstruction can help accelerate recovery, rebuild societies on stronger foundations and design systems that are more just and effective.” She called for flexible, realistic and responsive international cooperation to keep pace with rapid digital transformations, while urging stronger partnerships between governments, technology companies, academia and civil society to ensure that digital transformation benefits reach the most vulnerable.

Former UK Minister Lord Ed Vaizey also highlighted the transformative potential of technology in rebuilding societies. “From restoring basic services to creating opportunities for young entrepreneurs, digital innovation offers hope even in the most difficult circumstances,” he said. The dialogue, held under Chatham House rules, brought together ambassadors from DCO member states and international partners for an open exchange on harnessing digital tools to promote peace, reconstruction and long-term stability. — KUNA

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Cabinet approves draft laws on real estate, children

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KUWAIT: The Cabinet on Tuesday received a detailed presentation from Governor of the Central Bank of Kuwait Basel Ahmad Al-Haroun on Fitch Ratings’ recent affirmation of Kuwait’s sovereign credit rating at AA- with a stable outlook, highlighting the country’s strong domestic financial position and exceptionally robust external balance. Following the weekly Cabinet meeting chaired by His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah at Bayan Palace, Deputy Prime Minister and Minister of Cabinet Affairs Shareeda Abdullah Al-Maousherji said the presentation outlined the framework for sovereign credit ratings, Kuwait’s rating trajectory, analytical pillars and factors that could impact future ratings.

The Cabinet reiterated its commitment to continuing financial reforms to strengthen Kuwait’s sovereign credit standing globally. Earlier in the meeting, ministers reviewed messages sent to His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah from foreign leaders regarding bilateral relations and cooperation across multiple sectors. On domestic projects, Minister of Public Works Dr Noura Mohammad Al-Mashaan briefed the Cabinet on coordination efforts with the Audit Bureau and the Central Agency for Public Tenders, alongside representatives from the Ministry of Interior, General Authority of Civil Aviation, and the Fatwa and Legislation Department.

Discussions focused on enhancing coordination to ensure the New Passenger Terminal (T2) project at Kuwait International Airport meets the highest standards of quality and efficiency. The Cabinet called on all relevant authorities to intensify efforts, address challenges, and accelerate project implementation according to the specified timeline.

In legislative matters, the Cabinet approved a draft decree-law amending certain provisions of Law No 21 of 2015 on Children’s Rights. The amendments aim to ensure newborns are added to the father’s nationality portfolio, with penalties for non-compliance as stipulated in Article 81. The Ministry of Interior, in coordination with the Fatwa and Legislation Department, will prepare an explanatory memorandum for the decree-law, which will be submitted to His Highness the Amir for approval.

The Cabinet also reviewed and approved draft decrees concerning controls on real estate ownership by non-Kuwaitis under Decree-Law No. 74 of 1979, and amendments to Decree No 37 of 1994 establishing the Kuwait Institute for Judicial and Legal Studies. These draft decrees, along with a unified industrial regulation law for GCC countries and several memoranda of understanding with foreign governments, will be submitted to His Highness the Amir. The meeting concluded with the Cabinet approving additional agenda items and referring specific topics to relevant ministerial committees for further review and reporting. — KUNA

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UN Special Rapporteur calls on Kuwait to form women’s ministry

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KUWAIT: Women in Kuwait continue to face challenges in reporting incidents of violence due to “insufficient specialized judicial courts, ineffective shelters and limited protection systems”, United Nations Special Rapporteur on Violence against Women and Girls Reem Alsalem said on Monday in a press conference held at UN House in Kuwait. She emphasized the need for both immediate improvements — such as strengthening shelters and outreach programs — and broader structural reforms, including the establishment of “a stand-alone ministry or high council on women reporting directly to the prime minister.”

Victims continue to face obstacles in accessing justice, Alsalem stressed, pointing to long litigation processes, social stigma, and poor coordination between police, prosecution, and social services. She noted that while family violence courts and hotlines exist, “all shelters that officially exist were under renovation at the time of my visit and could therefore not be accessed”.

The Special Rapporteur drew attention to the plight of domestic workers and migrant women, who remain highly vulnerable under the sponsorship (kafala) system despite protections under the Domestic Workers Law of 2015. She welcomed recent measures that allow temporary sector transfers but said, “their impact remains limited in the face of insufficient enforcement and limited inspection of work conditions.”

Alsalem also highlighted serious nationality-related challenges. Kuwaiti women married to non-Kuwaiti men cannot pass on their nationality to their children on an equal basis with men. She described the consequences for these children as “systemic legal and social discrimination”, leaving them excluded from senior positions in the public sector and dependent on their mother’s legal status, which they lose upon her death.

Equally concerning, she said, was Kuwait’s recent resort to the withdrawal of nationality, a policy introduced in 2024 that has left tens of thousands affected. “Women bear a disproportionate burden, as the majority of those whose citizenship has been revoked are foreign women who had naturalized via marriage to Kuwaiti men,” Alsalem noted, describing the impact as devastating: Loss of jobs, property, pensions, housing, travel rights and access to basic services. While she acknowledged mitigation efforts such as temporary passports and an online appeals portal, she emphasized the need for an independent appeals mechanism under the judiciary.

Looking ahead, Alsalem underscored the need for better data collection, awareness campaigns to challenge harmful societal norms, and “one-stop shops” that provide safe spaces and comprehensive services for survivors of violence. She urged Kuwait to engage more closely with civil society organizations in running shelters and outreach programs.

Despite these challenges, Alsalem acknowledged Kuwait’s positive steps. She welcomed reforms such as the 2020 Domestic Violence Law, the 2025 Penal Code amendments abolishing leniency in so-called “honor killings,” and the 2025 reform of the Personal Status Law raising the marriage age to 18 for both sexes. She also noted Kuwait’s progress on equal pay for equal work, growing female participation in leadership, judiciary, diplomacy, and sports, and its humanitarian role in crises from Gaza to Sudan.

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