Middle East Economic Survey


No 11



Dubai World Restructuring Plan Sparks Bank Fears

Dubai World is thought to have made progress in talks with its almost 100 creditors represented by a steering committee including two UAE banks, Royal Bank of Scotland and HSBC as it seeks to restructure its debt. Reports indicate that the firm will present a plan in the coming weeks to restructure $22bn of the debt, with the proposal expected to see lenders repaid over several years,...