Click here for search results
Kuwait - Averting financial crisis, Volume 1
 
Author:Al-Sultan, Fawzi H.; Collection Title:Policy, Planning and Research Department working papers ; no. WPS 243
Country:Kuwait; Date Stored:1989/07/01
Document Date:1989/07/31Document Type:Policy Research Working Paper
SubTopics:International Terrorism & Counterterrorism; Economic Theory & Research; Payment Systems & Infrastructure; Banks & Banking Reform; Financial IntermediationLanguage:English
Major Sector:FinanceRegion:Middle East and North Africa
Report Number:WPS243Sub Sectors:Other Finance
Volume No:1  

Summary: On August 8, 1982 a leaflet was distributed in the Suq Al Manakh building and in the basement of Commercial Center No. 5, the offices of the parallel stock market and the Kuwait Stock Exchange. The leaflet carried the names of most of the dealers in the stock market and it declared a one month moratorium on all payments of maturing future cheques. The moratorium, informal as it was, was respected by the dealers. During the next two years stock market and real estate prices fell more than 50 percent, devastating investors who had bought the underlying assets at future prices. This paper traces the development of Kuwait's financial crisis and describes the interventions devised by the government as events unfolded. The critical question is whether the solutions will reignite Kuwait's nonoil economy and stimulate the participation of the private sector.

Official Documents
Official, scanned versions of documents (may include signatures, etc.)
File TypeDescriptionFile Size (mb)
PDF 56 pagesOfficial version*3.92 (approx.)
TextText version**
How To Order

* The official version is derived from scanning the final, paper copy of the document and is the official,
archived version including all signatures, charts, etc.
** The text version is the OCR text of the final scanned version and is not an accurate representation of the final text.
It is provided solely to benefit users with slow connectivity.



Permanent URL for this page: http://go.worldbank.org/HALXET1Y10