Kuwait: 2010 Article IV Consultation: Staff Report and Public Information Notice on the Executive Board Discussion
IMF Staff Country Reports, July 29, 2010
Source details
- Canonical URL
- Kuwait: 2010 Article IV Consultation: Staff Report and Public Information Notice on the Executive Board Discussion
Other formats
Bibliographic details
- Published: July 29, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455204861.002
Economic impact of the global crisis
- Kuwait’s economy was affected significantly by the global crisis.
- The economic outcome depends largely on government spending and the associated private investment.
Financial sector condition and resilience
- The financial sector experienced funding pressures and deterioration in asset quality.
- Stress tests indicate that the banking system can withstand shocks.
- The household debt relief law can undermine the financial culture.
Macroeconomic policy assessment
- The macroeconomic policy mix is adequate.
- Growth of current expenditures should be contained.
Structural reforms and governance
- Successful implementation of the growth agenda requires progress in structural reforms.
- The financial system’s oversight framework should be strengthened.
Source: IMF Staff Country Report — Kuwait: 2010 Article IV Consultation: Staff Report and Public Information Notice on the Executive Board Discussion