The Dubai government has no plans for a sovereign borrowing next year, and any capital raising activity in 2012 is likely to be small-scale, a senior government official said.
"Currently, there's no decision to issue bonds in 2012, mainly because the budget hasn't been finalised yet. So if there's a need, it would be to support the budget, and that would be very minor," Abdul Rahman Saleh Al Saleh, Director-General of the Dubai Department of Finance, told Zawya Dow Jones in a recent interview.
The Dubai government and some of its affiliated companies have successfully tapped the financial markets several times since Dubai World announced a standstill on its debt repayments in November 2009.
"Currently, there's no decision to issue bonds in 2012, mainly because the budget hasn't been finalised yet. So if there's a need, it would be to support the budget, and that would be very minor," Abdul Rahman Saleh Al Saleh, Director-General of the Dubai Department of Finance, told Zawya Dow Jones in a recent interview.
The Dubai government and some of its affiliated companies have successfully tapped the financial markets several times since Dubai World announced a standstill on its debt repayments in November 2009.
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