Middle East Economic Survey


No 51-52


Dubais Problems Persist After Latest Abu Dhabi Lifeline

Debt servicing challenges remain for Dubai, despite its being thrown a last minute $10bn lifeline by Abu Dhabi. The money allowed the emirate to pay the $4.1bn Nakheel Sukuk due on the 14 December, and head off a bond default that would have damaged its reputation. But with around $11bn to service in 2010 and $19bn the year after, the second largest emirate is not yet in the clear...