State-owned conglomerate Dubai World can’t afford to default on its restructured $24.9bn in debt and is able to meet its credit obligations, the company’s chairman said Wednesday.
“Whatever [commitment] we have at the end of the day, we are committed to do it, and we will do it,” Sheikh Ahmed Bin Saeed Al Maktoum told newswire Zawya Dow Jones.
“I don't think we can afford today, if we have anything, to default on it. It is a matter of credibility and I’m sure we will be able to demonstrate this in the coming years.”
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