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jpmorgan upgrades kuwait to developed market amid significant debt plan

JPMorgan Chase & Co. has upgraded Kuwait to developed market status, set to take effect on March 31, 2025, as it exits the Emerging Markets Bond Index. This change aligns with the country's new debt law, allowing for $65 billion in bond issuance over 50 years. Kuwait anticipates a budget deficit of $20.4 billion for the fiscal year 2025-2026, influenced by lower oil revenues, while the reclassification is expected to impact global financial trends and foreign investment opportunities.
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