KUWAIT- The Kuwaiti government has proposed new amendments to the country's public debt law, including capping borrowing to maximum 60% of gross domestic product, the head of a parliamentary finance committee told Reuters.
The government presented the proposed amendments to the parliamentary committee on Monday, Ahmed al-Hamad said. Another proposed change regards the duration of debt: the government would like no maturity limit, he said, while the existing debt law has a maximum limit of 30 years.
Kuwait is facing a liquidity squeeze because of a standoff between government and parliament over the public debt law.
(Reporting by Ahmed Hagagy; Editing by Catherine Evans) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: firstname.lastname@example.org))