Posted on 01/17/2021 9:47:13 AM PST by CheshireTheCat
Kuwait’s Prime Minister Sabah al-Khalid al-Sabah presented the resignation of his cabinet to the country’s ruler on Wednesday, days before the premier was due to be questioned in parliament over his choice of ministers and other issues.
The standoff between the government and parliament less than a month after the cabinet was appointed poses the first big challenge to Emir Sheikh Nawaf al-Ahmed al-Sabah, who assumed power in September.
It complicates government efforts to tackle the OPEC state’s deepest economic crisis in decades, caused by low oil prices and the coronavirus crisis.
The impasse, the latest in a series of standoffs between government and parliament over several decades, is “another punctuation mark in a numbing narrative”, Hasnain Malik, head of equity research at Tellimer, said in a strategy note.
He said the government would have to dip into sovereign cash reserves to partly finance a yawning deficit in the absence of a debt law that has long-faced legislative gridlock...
(Excerpt) Read more at reuters.com ...
That article was completely unhelpful. The debt legislation...is the problem that Islam does not allow interest? The only way modern economies can work is by the financial systems set up by Western (Christian) nations. Without fractional reserve banking and interest, nothing works. You simply can’t pay cash for everything in a world designed to work by a different means.
If that’s the reason, and I don’t know for sure, then the answer is to get a few powerful imams to issue a decree reinterpreting the Koran.
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