Kuwait plans to issue dollar-denominated bonds as its economy faces pressure from the impact of Iran's attack.

According to Golden Ten Data, Kuwait plans to issue US dollar bonds on Wednesday and has hired Goldman Sachs and Citigroup to arrange a three-part deal with maturities of three, five, and ten years. Kuwait has been subjected to daily missile and drone attacks from Iran over the past two weeks, placing its economy under pressure. Goldman Sachs analysts estimate that Kuwait's fiscal deficit in April has soared to an annualized rate of nearly 40%, and the country has been forced to halt most of its oil exports due to the closure of the Strait of Hormuz.