The total debt of cash-strapped Dubai could be as much as $170 billion, much higher than earlier reported, according to a report by EFG-Hermes.
"The total debt held by Dubai Inc could well be in the range of 130-170 billion dollars," the bank said in its 2010 UAE Yearbook, a copy of which was received by media on Tuesday.
Dubai Inc is a term used to refer to the Dubai government and its government-related entities.
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