Kuwait May Borrow for Rebuilding
SINGAPORE - Some senior Kuwaiti government officials would prefer to borrow money to finance rebuilding of the economy rather than sell assets, a senior Kuwaiti bank official told those at a conference here.
The reconstruction bill, estimated at $20 billion to $30 billion, is likely to be financed through a combination of various options, including liquidation of foreign assets, taking out commercial loans, and borrowing funds against future oil deliveries, said Abdulla al-Fuwaires, a vice president of Kuwait Asia Bank.
"It is the preferred view of certain senior government officials to resort to commercial borrowings rather than liquidating assets," Mr. Fuwaires said.
