Kuwait Nears Approval of Public Debt Law After Eight-Year Gap

Kuwait, 31 January, 2025 : Kuwait is set to approve a public debt law that would allow the government to borrow for the first time in eight years, Bloomberg reported, citing unnamed sources.

The proposed law is expected to enable Kuwait to raise up to 20 billion dinars ($65 billion) over the next 50 years, marking a significant step in addressing the country’s financial needs. The legislation would allow the issuance of both conventional bonds and sukuk as required.

Kuwait last tapped the debt market in March 2017, raising $8 billion before its previous debt law expired. The new law, if passed, would provide the government with fresh funding options to support economic initiatives and fiscal stability.