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17 December 2019
MOVES

Kuwait appoints Gulf’s first female finance minister

Kuwait, home to about six per cent of the world’s oil reserves, is the fourth-biggest producer in the Organisation of Petroleum Exporting Countries (OPEC).

Mariam Al-Aqeel, Kuwait's new finance minister/Bloomberg


Kuwait has appointed Mariam Al-Aqeel as the new finance minister, the first woman in the Arabian Gulf region to hold the post, reported Bloomberg.

Khaled Al-Fadhel retained his posts as the minister overseeing oil, electricity and water in Sheikh Sabah Al-Khaled Al-Sabah’s first cabinet, which includes three women and eight new faces.

As finance minister, Al-Aqeel automatically heads the country’s sovereign wealth fund, Kuwait Investment Authority.

The cabinet is expected to serve for less than a year since Kuwait is scheduled to hold parliamentary elections in 2020.

The International Monetary Fund expects Kuwait’s economy to grow 0.6 per cent this year, squeezed by a reduction in oil output as part of an OPEC agreement.

 


RELATED STORIES: International Monetary Fund Kuwait Minister of Finance Arabian Gulf Mariam Al-Aqeel OPEC Kuwait Investment Authority

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