Dubai's innovative approach to debt smooths the way
Since 2009, the emirate’s financial authorities and indebted government related enterprises (GREs) have adapted new tactics to overcome the debt crisis. The actions include negotiations with creditors and mortgage providers as well as repayments and restructurings. However, Dubai’s debt is still as high as $110bn, so this year’s debt deals are just the beginning of the approach to manage the crisis and avoid legal actions.
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