The Economic Kuwaiti Agreements in the light of the Kuwait National Assembly discussions (1971-1974)

Abstract

Since its dependence in the sixties of the last century, the state of Kuwait has sought to establish its existence as a country through agreements that included providing aid to countries with low economic resources benefiting from the substantial revenues generated from the production and exporting of petroleum, which spurred the Kuwaiti government to provide monetary loans that rivalled those of global organizations, by reducing interest rates and therefore, increasing the financial returns. These agreements were formalized by presenting them as legislation to the Kuwait National Assembly for discussion and approval, making the government obligated to implement them.