Middle East Economic Survey

VOL. LIII

No 21

24-May-2010

UAE

Dubai World Agrees $23.5Bn Restructuring With Creditors Coordinating Committee

Dubai World has reached an agreement on restructuring $23.5bn worth of debt with the coordinating committee that represents the companys creditors (accounting for around 60% of the bank lenders) and the Government of Dubai, it announced on 20 May. The company said that economic terms have been agreed in principle and recent discussions had refined, but not...