Kuwait pens agreement to support Bahrain's fiscal reforms

The agreement formalises Kuwait's part in a $10 billion financial aid package announced by Kuwait, the UAE and Saudi Arabia last year
Kuwait pens agreement to support Bahrain's fiscal reforms
Minister of Finance Dr. Nayef Al-Hajraf with Members of Bahrain's Ministry of Finance, (KFAED), and the Arab Monetary Fund
By Bernd Debusmann Jr
Wed 03 Apr 2019 09:10 AM

Kuwait’s government has signed an agreement to support ongoing fiscal reforms in Bahrain, the Ministry of Finance announced on Tuesday.

Last year, Kuwait – along with the UAE and Saudi Arabia – announced a $10 billion financial aid package to Bahrain to prevent the country from falling into a debt crisis.

A report in the state-run Kuwait News Agency (KUNA) said the Bahraini and Kuwaiti finance minister, in addition to the Arab Monetary Fund and the Kuwait Fund for Arab Economic Development, signed a “multi-party cooperation framework”.

The framework, KUNA added, “formalises a previously agreed package for supporting the economic reforms and financial stability of the Kingdom of Bahrain.”

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