Kuwait has $6.6 billion worth of liquidity in its Treasury and not enough cash to cover state salaries beyond October, Finance Minister Barak Al Sheetan warned parliament. His warning was made as political wrangling again delayed efforts to return to international bond markets. The government is withdrawing from its General Reserve Fund at a rate of 1.7 billion dinars a month, meaning liquidity will soon be depleted if oil prices don’t improve and if Kuwait can’t borrow from local and international markets, he said. Managing the crisis has proven…
Read MoreOil Producing Nation, Kuwait Runs Out of Cash, Warns On Salary Payment Default
