Wednesday 16 May 2012

UAE gov't firms face $30bn debts due in 2012 - Banking & Finance - ArabianBusiness.com

The International Monetary Fund said government-related companies in the UAE have about $30bn of debt due this year.
The companies also have a “significant amount of debt” due in 2014 and 2015, the IMF said in a statement released on Wednesday.
Its executive directors said they "welcomed the consolidation plans in Dubai, which will help improve the emirate’s debt sustainability in the face of contingent liabilities related to government-related entities and the still weak real estate market".

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