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Journalism of Courage
Six months would be too short to restructure indebted state-controlled conglomerate Dubai World,the emirate’s finance chief said on Tuesday,adding that it has enough assets to meet its obligations.
Dubai’s govwernment would support the group “as an owner”,Abdulrahman al-Saleh told Al Arabiya televison,without being more specific. He said it was premature to talk about cash injections into the group’s developer Nakheel.
The six-month period would be focused on sorting out the debt of Dubai World,he said.
Dubai,which has a programme to seek further sovereign loans,should be able to tap debt markets when it needs,Saleh said without giving a timeframe.
