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Kuwait repays KWD 650m as part of national debt

Kuwait repays KWD 650m as part of national debt
Kuwait’s debt has decreased by 9% to KWD 6.32 billion

Mubasher: The Kuwaiti government has repaid part of its debt which accumulated to total KWD 6.97 billion by the end of March 2018.

Kuwait’s government has repaid KWD 650 million until Thursday, 5 July, as part of the national debt which is being paid to local banks, Al Qabas Newspaper reported.

Following this repayment, the country’s debt has decreased by 9% to KWD 6.32 billion, however, there are still dues worth KWD 550 million until the end of fiscal year 2018, the news portal added.

Total public debt of Kuwait includes bonds valued at $8 billion ($2.4 billion) issued by the GCC nation in international markets, part the bonds is expected to be matured in 2022 and the remaining part is due in 2027, Al Qabas said.