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Kuwaiti debt instruments shed 29% YoY in May

Kuwaiti debt instruments shed 29% YoY in May
Debt instruments went down 7% MoM

Mubasher: Kuwait’s public debt instruments declined by 29.1% year-on-year to KWD 2.97 billion ($9.78 billion) during May.

On a monthly basis, debt instruments went down 6.9% from KWD 31.92 billion in April, according to data released on Thursday by the Central Bank of Kuwait (CBK).

The oil-rich country’s public debt instruments decreased by 12.5% year-on-year to KWD 4.17 billion during the first six months of 2019.

On Tuesday, the CBK issued bonds and related tawarruq worth KWD 240 million ($791 million), with a 3.125% return.