IMF 'not worried about Dubai debt obligations'
Dubai, May 21, 2013
The International Monetary Fund is not worried about Dubai's ability to meet its upcoming debt obligations, Masood Ahmed, director of the IMF's Middle East and Central Asia department, told reporters on Tuesday.
Standard Chartered bank estimates Dubai and its government-related entities (GREs) - companies and agencies backed by the state - have around $48 billion of debt obligations coming due between 2014 and 2016.
The emirate was looking at alternative means to repay its debt it asset sales did not materialise, a senior government official said earlier in May. -Reuters