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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

How the Second-Richest Arab Nation Is Reacting to Oil Shock

Posted on 20 May 2016

Kuwait has enough financial firepower to respond gradually to the plunge in global crude prices. Its sovereign wealth fund is the world’s fifth-largest with $592 billion in assets under management, according to data compiled by the Sovereign Wealth Fund Institute.
Kuwait’s gross domestic product, adjusted for exchange rates, was more than $70,000 per head in 2015 — making it the world’s sixth-richest nation and second only to Qatar in the Arab world, according to IMF estimates. The oil decline “has clearly shown the structural issues in our economy,” said the minister, who is also the wealth fund’s chairman………………………………………..Full Article: Source


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