The UAE has put on hold plans to issue its first federal sovereign bond, which was widely anticipated by the end of 2012, for two years, Shaikh Hamdan bin Rashid Al Maktoum, UAE Finance Minister and Deputy Ruler of Dubai, said on Tuesday.
Shaikh Hamdan on the sidelines of an exhibition said the emirate’s government-related entities, or GREs, which have been undergoing restructuring since 2009, are in a good shape.
Market watchers have been speculating about the first UAE federal bond issue of $1 billion before the year-end after a public debt bill becomes law.
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