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Kuwait to buy out citizens' loans
- Kuwait: Thursday, March 14 - 2013 at 05:15
Kuwait has said a provisional agreement has been reached, under which the government is to buy out billions of dollars of bank loans owed by citizens and reschedule them interest free, AFP has reported. Finance minister Mustafa al-Shamali, who had previously rejected similar proposals, said after a meeting with parliament's financial and economic affairs committee that "an agreement on the issue has been reached." The deal covers loans taken out by Kuwaitis between January 1, 2002 and March 30, 2008.
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