Middle East Economic Survey

VOL. LII

No 49

7-Dec-2009

Debt Crisis Threatens To Undermine Dubais Independence

Dubais debt crisis has shattered the emirates financial standing and sent shock waves round the regions markets. The failure of the Dubai government to back flagship company Dubai World poses questions surrounding implied government support, which has commonly been accepted as a guarantee for financial transactions not just in Dubai but in the wider region. In the longer term, perhaps the...