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Dubai Finance chief says ‘credible’ steps crucial on debt crisis

Posted on 11 December 2009

From Bloomberg: Dubai, whose Dubai World unit plans to restructure $26 billion of loans, must take “credible” steps to address the problem of indebtedness, Abdulrahman Al Saleh, director general of Dubai’s Department of Finance, said today.

Market reaction to the announcement was “softening,” Al Saleh told a conference in Dubai………………………………Full Article: Source

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