Kuwait Eyes Return to Debt Markets to Fund Diversification From Oil

Kuwait has approved a financing and liquidity law that will allow one of OPEC’s top producers to return to the debt market after eight years, with borrowing expected to fund projects to diversify its dependence on oil revenues. While the other OPEC Gulf heavyweights, Saudi Arabia and the United Arab Emirates (UAE) are investing – and borrowing to invest – in major infrastructure, AI, and technology projects, Kuwait has been lagging behind. Over the past few years, Kuwait – OPEC’s fourth-largest exporter behind Saudi…