Kuwaiti government bails out nationals in debt

07 December 2007
The government is setting up a KD 300m ($1bn) fund to help insolvent Kuwaitis.

The government will submit a draft bill to the national assembly by mid-December to initiate the fund that will help nationals pay back loans to local banks. Debtors will have to repay the fund. Kuwaitis owe between KD84m-90m ($306m-328m) in debts that are subject to legal action

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