The Central Bank of Kuwait (CBK) has issued new bonds and tawarruq worth KD 240 million ($792 million).

The financial instruments have a tenor of three months and a return rate of 4.375%..

The facilities are the latest in a series of issuances the central bank has announced over the last few months.

Last March, the country’s central bank allocated KD 240 million for bond and tawarruq facilities valid for three months.

A similar issuance was also announced in April this year.

S&P Global Ratings had affirmed in June its “A+/A-1” long- and short-term foreign and local currency sovereign credit ratings on Kuwait.

The ratings agency also forecast that the country’s real GDP growth will rebound to 2.4% on average in 2025-2027, after an estimated 2.3% contraction this year.

The positive forecast was issued as Kuwait accelerated the implementation of large investment projects and OPEC+ eased oil output limits.

(Writing by Cleofe Maceda; editing by Seban Scaria seban.scaria@lseg.com)