Kuwait has issued fresh bonds worth KD400 million ($1.3 billion) in the local market to fund its budget deficit, its first such debt issuance since the start of the conflict on February 28 between Iran and the US-Israeli alliance.
Analysts expect Kuwait to issue more bonds in the coming months due to the forecast decline in revenues following the closure of the Strait of Hormuz, which has blocked its crude exports.
Despite the ongoing ceasefire which began two weeks ago, Hormuz has remained shut by Iran, depriving Kuwait and other…