Kuwait set to settle local bonds worth KD 160 mln

Furthermore, Kuwait holds global bond obligations worth 1.370 billion dinars, due for repayment on March 20, 2027. These global bonds, issued on March 20, 2017, carry a fixed interest rate of 3.5%. The total debt, which includes local and international bonds, amounts to about 1.580 billion dinars. Kuwait has been strategically borrowing from abroad since 2014 to ease the fiscal deficit amid falling oil prices.

The proceeds from these bonds, obtained by the General Reserve Fund, played an effective role in financing various government expenditures, including operational costs. The General Investment Authority is committed to depositing the necessary liquidity to cover the repayment of the bonds on the specified dates without delay. This liquidity will be obtained from the Authority’s bank accounts, without affecting strategic investments, and will be generated through various investments, including interest on bank deposits, bonds, sukuk, and foreign real estate.

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