Kuwaitis Ask State to Pay Personal Loans

After a government boycott caused the house to not hold a special session hundred of Kuwaitis protested in the parliament demanding that the personal loans amounting to billions of dollars be written off completely.

The speaker cancelled the session since there was no cabinet minister. According to Kuwaiti law there needs to be at least one cabinet minister in the house in order for a parliament session to be legal.

MPs who backed the move agreed to file an urgent motion to debate this issues. The issue will be debated during a regular session of parliament. If the issue goes through it will cost the state close to five billion dollars.

Those who support the move of debt relief by the state cite the fact that $166 billion dollars have accumulated in financial assets by the small state with a population only around a million. The protestors insist that it is more important for the state to help the Kuwaiti people rather then providing foreign aid to other middle eastern countries such as Lebanon and Iraq.

The government has stated that passing the bill will only cause the state to squander their funds. The government believes that the protestors are merely trying to get a law passed to pay off loans they took out and do not want to repay. The finance minister of Kuwait stated that the consumer loans themselves total to $4.3 billion.