Kuwait

Britain oversaw foreign relations and defense for the ruling Kuwaiti AL-SABAH dynasty from 1899 until independence in 1961. Kuwait was attacked and overrun by Iraq on 2 August 1990. Following several weeks of aerial bombardment, a US-led, UN coalition began a ground assault on 23 February 1991 that liberated Kuwait in four days. Kuwait spent more than $5 billion to repair oil infrastructure damaged during 1990-91. The AL-SABAH family has ruled since returning to power in 1991 and reestablished an elected legislature that in recent years has become increasingly assertive. The country witnessed the historic election in May 2009 of four women to its National Assembly.

Economical characteristics

 * Currency: Kuwaiti dinar (ISO code: KWD)
 * Central bank discount rate: 2.5% (10 February 2010)
 * Commercial banks lending rate: 5.9% (31 December 2009)
 * Stock of money (M1): $16.05 billion (31 December 2009)
 * Quasi money (with M1 makes M2): $71.79 billion (31 December 2009)

Notable events:

 * Banking crisis: 1983

Links

 * Kuwait on Wikipedia
 * Central bank of Kuwait
 * Studies from the Library of Congress (1986-1998)
 * BBC country profile