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InterviewsJune 3 2009

Sheikh Salem Abdulaziz Al-Sabah

Sheikh Salem Abdulaziz Al-Sabah, governor of the Central Bank of KuwaitThe governor of the Central Bank of Kuwait discusses the impact political instability is having on the country and the effect he hopes the new Financial Stability Law will have. Writer Stephen Timewell
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Sheikh Salem Abdulaziz Al-Sabah

Q: In March, Moody's Investors Service said it may cut Kuwait's sovereign rating due to a protracted political crisis which is threatening the country's ability to cope with the financial downturn. How do you see the impact of the political turmoil on the economy?

A: Such events as a drop in rating alert us to the urgent need to sustain a political atmosphere that best prepares us to counter the economic challenges. We must reach a national consensus on economic issues and take steps and measures to overcome the economic slump. We want political stability. Over the past two years there has been disagreement between parliament and government but the impression of instability is not correct.

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