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UAE govt will support Dubai says minister

Dubai, March 9, 2010

The federal government will support Dubai as it grapples with a $26 billion debt restructuring and expects the matter to be resolved soon, the United Arab Emirate's finance minister said on Tuesday.

Asked whether the government would support Dubai, Sheikh Hamdan bin Rashid Al-Maktoum said: "Of course. Dubai is part of the federation."

Sheikh Hamdan, who is also deputy ruler of Dubai, said Dubai had not yet approached the federal government for aid.   

"The federation hasn't reached that far but the emirates' are one entity and things will be resolved soon, God willing." - Reuters




Tags: UAE | Dubai | support | debt restructuring |

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