AN ANALYST at credit rating firm Standard & Poor says Dubai has "insufficient" funds to pay back billions of dollars worth of debt coming due, putting added pressure on the city-state to raise additional cash.
AN ANALYST at credit rating firm Standard & Poor says Dubai has "insufficient" funds to pay back billions of dollars worth of debt coming due, putting added pressure on the city-state to raise additional cash.
S&P's Farouk Soussa said yesterday the sheikdom has about $4billion (R29,5billion) from a February bond issue, but must cover as much as $50billion over the next three years. - AP
Dubai needs billions to pay debt
AN ANALYST at credit rating firm Standard & Poor says Dubai has "insufficient" funds to pay back billions of dollars worth of debt coming due, putting added pressure on the city-state to raise additional cash.
AN ANALYST at credit rating firm Standard & Poor says Dubai has "insufficient" funds to pay back billions of dollars worth of debt coming due, putting added pressure on the city-state to raise additional cash.
S&P's Farouk Soussa said yesterday the sheikdom has about $4billion (R29,5billion) from a February bond issue, but must cover as much as $50billion over the next three years. - AP