AL QABAS: Kuwait MinFin to Transfer 2.05 Billion KWD to GRF
Posted on 08/23/2020
Local news source Al Qabas reports that Kuwait’s Ministry of Finance is preparing to transfer 2.05 billion Kuwaiti dinar in liquid cash to the General Reserve Fund, one of the sovereign funds managed by the Kuwait Investment Authority (KIA). This action is due to the National Assembly approving a law limiting the transfer of state funds to the Future Generations Fund. The General Reserve Fund has been rapidly depleted over a period of time, as the price of oil remains lower compared to other times.
Site reference: https://alqabas.com/