The Swiss investment bank Credit Suisse has produced the latest estimate of Dubai's total indebtedness in a detailed report on the emirate's financial and economic prospects.
The lender believes, however, that after a year of restructuring at the emirate's two biggest debtors, Dubai World and Dubai Holding, fears over potential defaults are receding, and it says the UAE's well-capitalised banks will be able to absorb any major hit from provisioning requirements.
But "there is a chance of further restructuring of debt", it adds.
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