Kuwait Shouldn’t Waste a Good Crisis

This article originally appeared in Gulf News on 15th January 2010

Kuwaiti politics has once again found its way into the pages of the Financial Times and Wall Street Journal. As recently as December 2008, Kuwaiti parliament members made headlines because they voted against the government and walked away from a multi-billion dollar joint venture with the US Dow Chemical Company.

Perhaps the fact that Kuwait has one of the highest GDPs per capita explains why a country with a footprint the size of the state of New Jersey or Wales in the UK is so highly charged and overly politicised.

As economic weakness persists and elections draw closer, the rhetoric has gathered momentum over the past 12 months, resulting in a parliamentary proposal to restructure a significant portion of Kuwaiti consumer debt.

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