Kuwait ruler accepts cabinet resignation in new crisis

Kuwait’s ruler accepted the cabinet’s resignation on Monday after deputies moved to question the prime minister, state media said, deepening a political crisis which threatens an economic stimulus plan.

Frequent cabinet changes usually do not affect the oil policies of OPEC-member Kuwait, the world’s seventh-largest oil exporter, which are set by a high state energy council.

But the stalemate could further delay approval of a 1.5 billion dinar ($5.11 billion) rescue plan, including bank guarantees to soften the impact of the global financial crisis and plans to lower the Gulf Arab state’s dependence on oil.
Reuters