Multibillion-dollar debt restructurings, loan defaults and woe for the country's lenders dominated an eventful year for the UAE's financial and banking sectors.
But there were at least a few hints of a nascent recovery. The completion of Dubai World's US$24.9 billion (Dh91.45bn) restructuring in September gave a much-needed boost to stagnant local markets, and numerous companies and governments successfully sold bonds to international investors to help refinance their borrowings.
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