Parliament in the oil-rich Gulf state of Kuwait gave its initial approval on Thursday to a bill that requires the government to buy some 21.6 billion dollars of loans taken out by citizens.
The plan stipulates that the state would reschedule repayment of the principal in interest-free installments over 10 years after scrapping current interest, estimated at more than 5.2 billion dollars.
MPs passed the bill at first reading by 36 votes to 18, following a marathon 13-hour debate that ended in the early hours of Thursday.
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