Dubai faces "significant rollover risks" from having to repay US$31 billion (Dh113.85bn) of debt this year and next, the IMF has warned.
The emirate would probably have to pay higher borrowing costs because of the absence of a well-defined and transparent strategy to address financing for government-related companies, it said.
"With an estimated US$31bn of debt due in 2011-2012, of which at least $5bn is in the real estate sector, Dubai continues to face significant rollover risks in the short term," the IMF, based in Washington, said yesterday, following a mission to the UAE which concluded last month.
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