Kuwait’s finance minister denied newspaper reports on Tuesday that the government is considering setting up a multi-billion dinar bailout fund to help troubled firms in light of the global financial crisis.
Several newspapers said earlier the cabinet discussed on Monday a new package of measures to boost the economy and agreed to set up a 5-billion-dinar ($17.32 billion) fund to buy assets from firms.
"No, this is not correct," Finance Minister Mustapha al-Shamali told reporters when asked about the reports. Shamali added that the government was discussing a central bank-devised rescue plan, which is expected to be referred to parliament for approval.
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