September 27, 2016 / 8:16 AM / in 3 years

Kuwait requires secondary debt market-bank exec

KUWAIT, Sept 27 (Reuters) - Kuwait’s government cannot issue a sovereign bond without the creation of a secondary debt market first, Ali Mousa al-Mousa, the chairman of Commercial Bank of Kuwait, said on Tuesday.

Kuwait plans to issue up to 3 billion dinars ($10 billion) in U.S. dollar-denominated bonds and sukuk in international markets to help plug its budget deficit for the current 2016-17 fiscal year, finance minister Anas al-Saleh said in July.

Reporting By Hadeel Al Sayegh; writing by Tom Arnold, Editing by William Maclean

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