Tuesday, 8 March 2011

Dubai can meet all debt due in 2011 - senior official - Maktoob News

Dubai will be able to meet all debt obligations due in 2011, including a $4 billion loan owed by its investment fund, a member of the Gulf Arab emirate's top fiscal body said on Tuesday.

Ahmed Humaid al-Tayer, part of the Supreme Fiscal Committee which was tasked with steering Dubai through a crippling debt crisis, also said the emirate's economic outlook was "looking good" in 2011.

Dubai has about $30 billion of debt maturing over the next two years, with $12 billion of that due this year. The largest is the $4 billion loan to Investment Corporation of Dubai which falls due in November.

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