UAE

 

Dubai: $20Bn Debt Rollover 

 

Abu Dhabi and the Central Bank of the UAE on 16 March agreed to refinance $20bn in debt extended to the Dubai government in the aftermath of Dubai’s 2009 real estate and financing crisis. The rollover of the debt, which was due this year, will help to reassure investors as the Dubai economy continues to rally. 

The Abu Dhabi Department of Finance and the central bank will refinance a $10bn loan to the Dubai government made...