Dubai could fully repay all of the bank debt owed by the property and ports conglomerate Dubai World, financial leaders in London were told during the recent visit by two of the emirate’s top officials.
People present at talks between UK and Dubai leaders said the possibility of repaying all bank loans in full was discussed as a medium-term possibility during talks involving Sheikh Ahmed bin Saeed Al Maktoum and Mohammed al Shaibani of the Dubai Supreme Fiscal Committee.
“They made clear there were a number of options the Government of Dubai saw as feasible and desirable for Dubai World and repayment in full was one of them,” said a person at the talks who declined to be identified because the meetings were private.
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