Kuwait City Kuwait Investment Authority (KIA) today hosted Larry Summers, former U.S. Treasury Secretary, as guest speaker at the “Global Macroeconomic and Geopolitical Situation” seminar, held at the Arraya Ballroom, Courtyard Marriott. Arranged together with Citi, the seminar was attended by 350 business heads and top decision makers in the private and public sectors.
On his debut visit to Kuwait, Mr. Summers, currently Charles W. Eliot University Professor and President Emeritus at Harvard University, presented an interesting overview of global economic environment, while his compelling views and arguments opened the floor to a healthy debate with much focus on Kuwait’s position in the current geopolitical and geo-economics space.
Mr. Summers had served in a series of senior public policy positions in the U.S., including Secretary of the Treasury from 1999 to 2001 and Director of the National Economic Council from 2009 to 2011. He writes a regular column for the Financial Times, the Washington Post and Reuters. Additionally, he is a frequent commentator on CNN, CNBC, BBC, NPR and the Charlie Rose Show.
In a recent interview with Bloomberg TV, Mr. Summers expected healthy economic growth in the U.S. during 2013, and “a good chance for above 3 percent” growth next year. He also applauded Bank of Japan’s record easing as “a bold experiment” to end 15 years of deflation in the country.
“We are committed to hosting world-class thought leaders who can add value to the Kuwaiti business community,” said Mr. Fahad Majed Al Salem, Director of Strategy & Planning Department of KIA. “By partnering with Citi and other multinational players, we help transform Kuwait into a destination of choice for high profile business events and seminars.”
Ozgur Kutay, Citi Country Officer for Kuwait, agreed. “Citi is pleased to co-host engaging thought leadership events in Kuwait, in full partnership with KIA. Such events add value to clients and to the business community at large. They fall within our mission as a corporate citizen and responsible market player.”
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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