Cabinet reviews CBK's FY 2012-13 report

The cabinet discussed at a meeting on Monday a recent annual report by the Central Bank of Kuwait (CBK) on the FY 2012-13. Following the meeting, Minister of State for Cabinet Affairs and Minister of Health Mohammad Abdullah Al-Mubarak Al-Sabah said the report focused on major foreign economic, monetary and banking developments, the current national financial plan as well as auditors' report on the CBK's financial position as well as efforts to ensure financial and monetary stability in the country. It also included efforts by the CBK in 2013 to ensure the relative stability of the Kuwaiti dinar versus main currencies by means of regulating the levels of local fluidity and credit cost, he said. He cited the report as stressing the significance of stepping up efforts to put the economic reform program in place with a view to achieving more growth and balanced and stable economic development. During their meeting held at Seif Palace under His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah, the ministers were apprised of a recent letter to HH the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah from Senegalese President Macky Sall, thanking him for invitation to attend the 3rd Arab-African summit due in Kuwait in November. They were also briefed on a letter to HH the Amir from Iranian President Hassan Rohani, the chairman of the Non-Aligned Movement (NAM), inviting him to attend a high-level meeting of the UN General Assembly on nuclear disarmament on September 26, the minister said. Also discussed were the positive reflections of a recent visit by HH the Amir to the US and his meeting with US President Barack Obama on several issues, including bilateral relations and Kuwaiti prisoners in Guantanamo Bay, Middle East and Syria. Several reports on the latest Arab and international political developments were discussed during the meeting.