"The International Monetary Fund has warned that Dubai is risking another boom-to-bust business cycle by pushing up its debt to boost short-term growth at the cost of the medium term outlook, in a statement concluding its annual mission to the UAE.
The global central bank highlighted an increase in debt at Dubai government-related companies from $84 to $93 billion in the year to end of March. Borrowers have been taking advantage of the low yield on Dubai Government bonds to raise new funds. Total debts of $142 billion are now over 100 per cent of GDP."
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