TitleKuwait : from reconstruction to accumulation for future generations / Nigel Andrew Chalk ... [et al.]
Kuwait has made an impressive recovery from the damage and disruptions caused by the Iraqi invasion in 1990, as evidenced by the restoration of basic economic and social services, the recovery of the oil sector, the rehabilitation of infrastructure, and the steady reduction in the fiscal and balance of payments deficits. This paper examines recent developments in the Kuwaiti economy and discusses the country's medium-term policy challenges of saving for future generations, strengthening the financial sector, and improving the functioning of the labor market. 1. Introduction / Mohamed A. El-Erian -- 2. Accumulation for future generations: Kuwait's economic challenges / Mohamed A. El-Erian -- 3. Budget structure and implications for fiscal policy / Susan Fennell -- 4. The impact of fiscal retrenchment on the private sector / Nigel Andrew Chalk -- 5. The Kuwaiti financial system: structure and experience / John F. Wilson and Alexei P. Kireyev -- 6. An analysis of Kuwait's debt collection program / Alexei P. Kireyev.