Wednesday, 13 May 2009

Is Kuwait's USD 5.2bn stimulus package sufficient?

Nassar Al-Kharafi, who controls nearly 16 percent of National Bank of Kuwait, the emirate’s biggest bank, and 10 percent of Global Investment House, has quesyioned the effectiveness of the countries $5.2 billion stimulus package. The 15-year guarantee against losses on existing credits and investments "won’t stave off economic catastrophe" he claimed in an interview with Institutional Investor.

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