LUXEMBOURG: German Finance Minister Wolfgang Schaeuble, the euro zone’s most influential official, said he was confident that Greece will win sorely needed funds at bailout talks on Thursday.
“I remain confident that we will find an agreement today on the payment of the latest tranche (of Greece’s bailout),” Schaeuble said as he arrived for talks in Luxembourg to discuss the delayed Greek bailout with his eurozone counterparts.
Although Athens will likely have to wait for a long-desired agreement on debt relief, officials said it would at least receive more “clarity” on debt commitments down the road.
International Monetary Fund (IMF) Managing Director Christine Lagarde and the euro zone’s 19 finance ministers are meeting in Luxembourg with hopes riding high that the talks will secure the release of the latest tranche of Greece’s €86 billion ($97 billion) bailout agreed in 2015.
Bitter disagreement between Germany and the IMF has held up the payout of a fresh tranche for Athens to meet €7 billion of debt repayments due in July.
“It’s a question of goodwill and it’s a question of willingness. If everyone around the table makes a very slight and positive move in the right direction we should be able to find an agreement today,” said French Finance Minister Bruno Le Maire.
The IMF, which took part in Greece’s two previous bailouts, has long insisted that more debt relief be part of a deal.
“I think that the IMF has to make their decision in or out,” said Hans Joerg Schelling, Austria finance minister.
“It is important for Greece for an access to (borrow money on) the markets and therefore in my opinion they have to say yes or no,” he said.
Debt talks could begin as early as October, he added.
Germany ‘confident’ of Greece bailout deal
Germany ‘confident’ of Greece bailout deal
Kuwait to boost Islamic finance with sukuk regulation
- The move supports sustainable financing and is part of Kuwait’s efforts to diversify its oil-dependent economy
RIYADH: Kuwait is planning to introduce legislation to regulate the issuance of sukuk, or Islamic bonds, both domestically and internationally, as part of efforts to support more sustainable financing for the oil-rich Gulf nation, Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah said on Wednesday.
Speaking at the World Governments Summit in Dubai, Al-Sabah highlighted that Kuwait is exploring a variety of debt instruments to diversify its economy. The country has been implementing fiscal reforms aimed at stimulating growth and controlling its budget deficit amid persistently low oil prices. Hydrocarbons continue to dominate Kuwait’s revenue stream, accounting for nearly 90 percent of government income in 2024.
The Gulf Cooperation Council’s debt capital market is projected to exceed $1.25 trillion by 2026, driven by project funding and government initiatives, representing a 13.6 percent expansion, according to Fitch Ratings.
The region is expected to remain one of the largest sources of US dollar-denominated debt and sukuk issuance among emerging markets. Fitch also noted that cross-sector economic diversification, refinancing needs, and deficit funding are key factors behind this growth.
“We are about to approve the first legislation regulating issuance of government sukuk locally and internationally, in accordance with Islamic laws,” Al-Sabah said.
“This enables us to deal with financial challenges flexibly and responsibly, and to plan for medium and long-term finances.”
Kuwait returned to global debt markets last year with strong results, raising $11.25 billion through a three-part bond sale — the country’s first US dollar issuance since 2017 — drawing substantial investor demand. In March, a new public debt law raised the borrowing ceiling to 30 billion dinars ($98 billion) from 10 billion dinars, enabling longer-term borrowing.
The Gulf’s debt capital markets, which totaled $1.1 trillion at the end of the third quarter of 2025, have evolved from primarily sovereign funding tools into increasingly sophisticated instruments serving governments, banks, and corporates alike. As diversification efforts accelerate and refinancing cycles intensify, regional issuers have become regular participants in global debt markets, reinforcing the GCC’s role in emerging-market capital flows.
In 2025, GCC countries accounted for 35 percent of all emerging-market US dollar debt issuance, excluding China, with growth in US dollar sukuk issuance notably outpacing conventional bonds. The region’s total outstanding debt capital markets grew more than 14 percent year on year, reaching $1.1 trillion.
