An investment company run by Dubai's government says it plans to repay in full $4 billion worth of debt coming due later this month.
Monday's announcement by the Investment Corporation of Dubai appears intended to reassure investors amid fresh concerns about the strength of the global economy. Severe debt problems tied to another of the emirate's government-run companies sent world markets reeling in late 2009.
ICD says it plans to cover the $4 billion by the due date of August 21. It has another $2 billion from the same pile of loans that matures in 2013.
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