KUWAIT CITY, July 5: Kuwaiti Finance Minister Yousef al Ibrahim on Wednesday survived a vote of no-confidence motion tabled against him by opposition legislators for alleged corruption.

The motion was defeated by one vote, while three MPs abstained from voting.

The vote of no-confidence accused Ibrahim of misusing powers and for formulating wrong policies, which “lead the country into an economic catastrophe”.

Ibrahim was also accused for the loss of 600 million dinars, suffered by the Kuwait Investment Authority (KIA), which has investment to the tune of around 90 billion dollars abroad.