08 Dec 2011
(MENAFN) Dubai’s Supreme Fiscal Committee’s chairman, Sheik Ahmed bin Saeed Al Maktoum, said that the emirate wouldn’t restructure its debt during next year, reported AP.
On the other hand, Sheik Ahmed said that Dubai might need to refinance part of its debts, allowing teh emirate to avoid defaulting on its obligations without necessarily coming up with all the cash it would need to pay its bills.
He also said that the Government of Dubai would be fully prepared to support its state-linked corporations through a number of different options.
It is worth noting that two years ago, Dubai acknowledged that it couldn’t repay all its debts, however, it got through the crisis with the aid of Abu Dhabi which provided Dubai with USD20 billion, and by getting its creditors to reluctantly accept new conditions on billions of dollars of debt linked to its Dubai World conglomerate.
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more