Kuwait paid debts worth KD 5 billion in 53 months

Kuwait paid debts worth about KD 5 billion over a period of 53 months from October 2017 to March 31, 2022, reports Al-Anba daily quoting informed sources.

The value of the existing public debt locally and internationally during the period from 2021/2022 to 2027/2028 amounted to about KD 3.49 billion. This is distributed between international bonds worth KD 2.44 billion and local bonds worth KD 1.050 billion. From this, about KD 1.62 billion became due in the current fiscal year for local and external bonds, including KD 1.07 billion in foreign bonds that matured on March 20, and the remaining KD 550 million in local bonds.

After paying the dues for the current year, Kuwait is required to pay KD 1.87 billion during the next six fiscal years. In the 2022/2023 fiscal year, it is due to pay for local bonds of KD 240 million.

In the 2023/2024 fiscal year, it is due to pay other local bonds of KD 50 million. In the 2024/2025 fiscal year, it will be due to pay local bonds worth KD 160 million. No debts are due on the government in the 2025/2026 fiscal year. After that, Kuwait will have to pay the largest debts, with KD 1.37 billion for international bonds in 2026/2027 fiscal year, and KD 50 million for local bonds in 2027/2028 fiscal year.