Wednesday 11 May 2011

IMF official says full picture of UAE's debt is hard to see - The National

The IMF has had difficulties gathering data on external debt of the UAE, a top official of the fund said yesterday.

"We at the IMF and I myself am still left with having to pull together various bits of information in order to come up simply with what I see as a comprehensive picture of indebtedness," Gabriel Sensenbrenner, the IMF's deputy division chief for the Middle East and Central Asia, said at a conference on public debt in Abu Dhabi yesterday.

The "external debt" Mr Sensenbrenner was referring to is money owed to foreign entities by UAE governments and government-related companies. Getting accurate debt figures about government-linked companies was especially difficult, he added, calling them "hard to penetrate".

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