The United Arab Emirates does not plan to issue federal bonds before 2012, a Finance Ministry document showed on Monday.
"The federal government will not issue sovereign bonds before 2012 and only if deemed necessary," Obaid Humaid al - Tayer, minister of state for financial affairs, said in the latest ministry newsletter.
"The UAE is currently working on launching a bond market parallel to the stock markets which will increase initial issuance on a federal level and local level."
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