​KUWAIT: Research tour finds a gloomy atmosphere and reduced momentum for debt issuance

GULF COUNTRIES - Report 09 Mar 2022 by Justin Alexander

A research trip in Kuwait this week revealed a gloomy atmosphere given longstanding bureaucratic and corruption issues and a lack of vision and leadership. Although the oil surge has brought a fiscal reprieve and means that the need for debt issuance is now less urgent, the underlying problems continued to linger, and a debt law and issuance will be needed when oil spends some time below the breakeven, which is currently about $90 but could rise further.

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