Increase seen in Kuwait’s external debt

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KUWAIT CITY, Dec 25: The value of Kuwait’s total external debt increased in the second quarter of this year to reach KD 18.82 billion, marking the highest level since the end of the first quarter of 2021, during which it amounted to KD 19.54 billion, reports Al-Anba daily. The total external debt increased compared to the same period last year when it reached KD 17.34 billion, with an annual growth of 8.52 percent, according to data by the Central Bank of Kuwait. On a quarterly basis, Kuwait’s external debt grew by 3.62 percent, as it was KD 18.17 billion in the first quarter of this year.

According to statistics by the Central Bank of Kuwait, this data includes the external debt balances of both the government and the private sectors. The data of the external debt of the government sector includes the end-of-period balances of loans and other credit facilities as mentioned in the sixth edition of the Balance of Payments and International Investment Position Manual, as well as the foreign liabilities of the Central Bank of Kuwait and the allocations of special drawing rights. As for the external debt data of the private sector, it includes local banks, investment companies, exchange companies, insurance companies, and non-financial private companies.

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