KUWAIT: There are no quick or easy solutions to the economic challenges facing Kuwait, Kuwaiti and International Monetary Fund (IMF) officials said this week. The statement came after a meeting between Kuwaiti Minister of Social Affairs, Family and Childhood Affairs Dr Amthal Al-Huwailah and head of the IMF delegation Francesco Baroudi.

The meeting discussed several important issues, according to KUNA, including social aid and economic reforms that Kuwait needs in order to achieve sustainable social stability. The IMF delegation presented three main recommendations to Kuwait during the meeting, including focusing on diversifying economic resources and developing and improving the business environment in order to preserve the country’s wealth and ensure its sustainability for future generations. The delegation stressed that these recommendations will be essential steps to maintain economic stability in facing future challenges.

The two parties stressed that and referred to the country’s great potential and ability to achieve the desired transformation, if reforms are implemented in a balanced manner. In a press statement following the meeting, Minister Al-Huwailah stressed the importance of implementing economic reforms in a gradual and thoughtful manner with the aim of maintaining society’s balance, noting that the ministry adopts a comprehensive approach based on reforms aimed at enhancing social justice and achieving sustainable development. She explained that the ministry is working according to a comprehensive reform strategy that focuses on improving the social and economic system to ensure justice and stability in the long term, explaining that this strategy aimed at achieving Kuwait’s development vision. Earlier this month, Kuwait Finance Minister Noura Al-Fassam discussed boosting Kuwait-IMF cooperation at a meeting with Managing Director of the IMF Kristalina Georgieva in Doha. The two sides explored ways to take advantage of the fund’s expertise to address financial challenges and implement economic reforms in Kuwait, according to a statement shared with KUNA.