A report issued by the Central Bank of Kuwait showed that the foreign reserve assets of the State of Kuwait decreased last December by 6.6% on an annual basis, amid pressures on liquidity due to the ongoing repercussions of Corona.
According to the report, Kuwait's reserve assets decreased to 13.68 billion dinars ($45.36 billion) in December, compared to 14.65 billion dinars in the same month of 2020. On a monthly basis, reserves decreased by 2.77 percent in December, from 14.07 billion dinars in the previous November.
Kuwait's reserves included about 11.998 billion dinars in deposits and currencies, 1.366 billion dinars in special drawing rights with the International Monetary Fund, and 236.5 million dinars (783.23 million dollars) in balances with the International Monetary Fund. Kuwait's foreign reserve includes gold by about 31.7 million dinars at the end of December.
The Kuwaiti economy is trying to recover from the repercussions of the Corona crisis, taking advantage of the high oil prices, which represent more than 90% of government revenues.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
