Tuesday 30 November 2010

Debt restructuring of UAE companies is crucial: IMF

The successful restructuring of troubled UAE companies will help to determine the IMF's outlook for its economy, says a senior official at the fund.

"The issue of dealing with that will be important, as will other issues like the outlook for energy prices [and] global growth," said John Lipsky, the first deputy managing director of the IMF.

Mr Lipsky was speaking on the sidelines of the World Economic Forum Summit on the Global Agenda in Dubai yesterday.

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