Kuwait to possibly write off citizens' debts

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12-03-2013 | 10:19
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Kuwait to possibly write off citizens' debts
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Kuwait to possibly write off citizens' debts
                
Kuwait's ministry of Finance and a parliamentary committee said on Tuesday that an agreement has been reached pertaining to a draft law stipulating writing off citizens' debts.                

After his meeting with the parliamentary committee, Finance Minister Mustafa Al-Shamali asserted that a legal and technical committee has been formed to study the draft law.               

The committee is expected to submit its report to the Parliament next Sunday.                       

It is worth mentioning that a similar debt-bailout bill was proposed in 2010, but Kuwait's Parliament voted against the measure amid strong opposition from the government.
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