Kuwait Plans to Issue Dollar Bonds to Address Economic Pressure

Kuwait plans to issue dollar bonds on Wednesday, with sources revealing that the country has faced daily missile and drone attacks from Iran over the past two weeks. Kuwait has hired banks such as Goldman Sachs and Citigroup to arrange a three-part agreement with maturities of three, five, and ten years, with final terms expected to be announced later on Wednesday. Kuwait is an important ally of the United States in the Middle East and is one of the wealthiest countries in the world due to its vast oil reserves. However, the Kuwaiti economy is under significant pressure due to frequent Iranian airstrikes in retaliation for U.S. and Israeli actions. Goldman Sachs analysts estimated in April that Kuwait's fiscal deficit has soared to an annualized rate of nearly 40%, and the country has been forced to halt most of its oil exports due to the closure of the Strait of Hormuz.

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