Oil and investment asset price declines will affect Kuwaiti solvency: Emir

The decline in oil prices and the value of investment assets since the start of the coronavirus outbreak will have an adverse impact on the “financial solvency” of the state, Emir Sheikh Sabah al-Ahmad al-Sabah said on Saturday.

“Kuwait is facing the big and unprecedented challenge of shielding our economy from the external shocks caused by this virus, specifically the decline in oil prices and the value of investments and assets, which will have a negative impact on the financial solvency of the state,” the emir was cited by the state news agency KUNA as saying.