Dubai ruler says emirate's financial crisis is over - ArabianBusiness.com

Dubai has overcome the financial crisis that forced it to delay debt payments two years ago, its ruler said.

“Dubai is well,” Sheikh Mohammed Bin Rashid Al Maktoum said on Friday at the opening ceremony for the emirate’s second Metro line. He also said he was concerned about the debt crisis in some European countries.

The second-biggest of seven sheikhdoms that make up the United Arab Emirates, Dubai has seen its credit risk fall since the start of the year even as political turmoil pushed rates higher in neighbouring Saudi Arabia and Bahrain. Unlike the two, Dubai didn’t experience anti-government protests.

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