Kuwait's Amir receives warnings of repeated Qatar scenario and recommends Iraq

Kuwait's Amir receives warnings of repeated Qatar scenario and recommends Iraq



Saturday 18 August

Alsumaria News / Baghdad
revealed the Lebanese newspaper " The News", Saturday, receiving Emir of Kuwait a report from the Amiri Diwan warn it of the existence of intentions "aggressive" to Saudi Arabia and the possibility of a repeat scenario Qatar with Kuwait, noting that the report recommended to resort to Iraq to meet Kuwait 's needs in the event of I was besieged.

The newspaper said that "the decision-making circles of Kuwait assess the situation and study the possible effects of any blockade can be imposed on the country," indicating that "officials prepared a detailed report to the Emir of the country, which states that the first steps to face the land blockade, which could happen if Saudi Arabia decided to close its borders With Kuwait, is to resort to fill their needs required across the border with Iraq. "

As for the maritime border, according to the newspaper report, "the opening of the port of Mubarak al-Kabeer in 2021, on the island of Boubyan, near the Iraqi port of Umm Qasr, will give Kuwait a sea port is very important," noting that "the port will be able to do business Container handling and services ahead of schedule and will contribute to reducing pressure from other ports. "

"The idea of ​​the project came from the importance, sensitivity and geography of the region, especially its proximity to the Mesopotamian civilizations (Iraq and Ilam in Iran ), as well as the Shatt al-Arab between them. Cooperation with neighboring countries (Iran and Iraq). "This region will become a fertile environment for investment and housing, and an exceptional free trade zone serving the northern Gulf."

The report pointed out to the Amir of Kuwait, according to the Lebanese news, that "the country faces a real problem for the provision of raw materials and meet the needs, especially as Kuwait topped the list of Arab countries in terms of food security in 2017."

As for the supply of electricity to the GCC, the newspaper says that "the other will not be affected, as confirmed by the experience of the siege of Qatar, where provided Kuwait, the UAE, 200 megawatts in 2018, and Bahrain with 150 megawatts of production.

According to official statistics, in 2016 Kuwait received about 3 million people from the GCC countries, including 2.5 million Saudis, Bahrainis and Americans, "the banner said." The potential strike will be at the soft end of the Kuwaiti economy. That "any kind of blockade or sanctions will prevent the travel of citizens to Kuwait, and therefore to substantial losses in the tourism sector, especially since the budget lines and flights Kuwait is supposed to reach in 2021 to a balance point in its ability to continue without the support of the state, Potential will impede those plans. "

The newspaper said that "the bet remains on the management of Kuwait joint with Saudi Arabia, the UAE and Bahrain to a number of Arab companies, making the volume of trade between these countries is very large," according to the same report to the Emir of Kuwait, the newspaper says that "any siege on the country will damage In Riyadh, Abu Dhabi and Manama before Kuwait. "

"The most convenient factor for Kuwaiti officials is the volume of government ammunition in the area of ​​foreign currency in Kuwait, which exceeds $ 524 billion," the newspaper said, stressing that "it is difficult to shake the economy of a country that has this size of ammunition, let alone that international institutions« Standard Moody's and Fitch have given Kuwait a rating of AA2 and AA, the highest long-term sovereign rating among Arab countries.

The credit rating agencies are assessing the risk of debt issues, both for companies and governments, and the ability of the issuer to meet debt repayment and premiums is the most important indicator of creditworthiness. "Kuwait's top position was built on a debt of only 18.6 %, And any siege or aggression against it will be able to face the state debt with a very low profit rate.

The reserve in the Central Bank in the field of foreign currency in Kuwait exceeded 33 billion dollars, and Kuwait can benefit from other currencies in an integrated manner in the face of any aggression.

"For many years, Kuwait has lived under the weight of the big brother (Saudi Arabia) bordering the south on the one hand, and the pressure of the regime of Saddam Hussein, which bordered the north and west on the other hand," she said, noting that (Kuwait) "liberated from the latter after The US invasion in 2013, and began to study the liberation from the first weight, through the search for the establishment of new economic alliances with Iraq and Iran, emerging from the node of small size in the vicinity.

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