Kuwait Investment Authority Strengthens Regional Influence

In April 2015, Abdul-Karim Suleiman, Egypt’s Ambassador to Kuwait, said to media in the Gulf that Kuwait deposited US$ 2 billion in the Central Bank of Egypt. The money came from the Kuwait Investment Authority (KIA). Supposedly in total, Egypt has been expecting US$ 6 billion worth of central bank deposits from Saudi Arabia, Kuwait, United Arab Emirates and Oman to help provide a level of financial stability. This would boost Egypt’s foreign reserves above US$ 20 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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