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Kuwait names new oil and finance ministers as government faces liquidity crunch

By Reuters Staff 3 Min Read KUWAIT (Reuters) - Kuwait’s emir on Monday approved a new cabinet that included new ministers of oil and finance for the OPEC member state which is mired in its worst economic crisis in decades. FILE PHOTO: Kuwait s new Emir Nawaf al-Ahmad al-Sabah holds a paper as he takes the oath of office at the parliament, in Kuwait City, Kuwait September 30, 2020. REUTERS/Stephanie McGehee/File Photo The previous government had resigned following parliamentary polls this month in which opposition candidates made gains and around two thirds of lawmakers lost their seats. A priority of the new government will be to boost state coffers badly hit by the coronavirus crisis and low oil prices, including by trying to end legislative deadlock over a bill that would allow Kuwait to tap international debt markets.

Kuwait s emir appoints new oil and finance ministers | Middle East News

Kuwait’s emir has approved a new cabinet that includes new ministers of oil and finance for the OPEC member state, which is mired in its worst economic crisis in decades. The move came on Monday after the previous government resigned following parliamentary polls this month in which opposition candidates made gains and some two-thirds of legislators lost their seats. A priority for the new government will be to boost state coffers badly hit by the coronavirus crisis and low oil prices, including by trying to end the legislative deadlock over a bill that would allow Kuwait to tap international debt markets.

Kuwait Emir Approves New Govt

Monday, 14 December, 2020 - 08:45 Kuwait’s Emir Sheikh Nawaf al-Ahmad al-Jaber al-Sabah. (Reuters) Asharq Al-Awsat Kuwait’s Emir Sheikh Nawaf al-Ahmad al-Jaber al-Sabah on Monday approved the formation of a new cabinet that included new ministers of oil and finance for the OPEC member state, the government communications office said, following a parliamentary election this month. Mohammad Abdulatif al-Fares was named oil, electricity and water minister, replacing Khaled al-Fadhel, it said in a Twitter post. Khalifa Hamade became finance minister, replacing Barak al-Shitan. Kuwait s oil policy, which is set by a supreme petroleum council, and foreign policy, which is steered by the emir, are unlikely to change under the new government.

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