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Dubai World, the umbrella company with $59 billion in looming debt, confirms its debt will not be backed by the government. <\/p>\n
Bloombrg<\/a>: Dubai World’s debt is not guaranteed by the government, Abdulrahman Al Saleh, director general of the emirate’s Department of Finance, said in an interview with state-run Dubai TV today.<\/p>\n “The company received financing based on its project schedule, not a government guarantee,” al-Saleh said in response to whether the government was backing the debt. “The lenders should be part of the responsibility.”<\/p>\n To add insult to injury, the Dubai Stock Exchange is plummeting<\/a>, down more than 7%.<\/p>\n Join the conversation about this story »<\/a><\/p>\n See Also:<\/b><\/p>\n Dubai World, the umbrella company with $59 billion in looming debt, confirms its debt will not be backed by the government. Bloombrg: Dubai World’s debt is not guaranteed by the government, Abdulrahman Al Saleh, director general of the emirate’s Department of Finance, said in an interview with state-run Dubai TV today. “The company received financing […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-55347","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/55347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=55347"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/55347\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=55347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=55347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=55347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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