IMF: Dubai firms must borrow based on strength, not guarantees

Although the process will take time, Dubai, United Arab Emirates, must change its relationship with state-owned businesses so their ability to borrow is based on business consideration and not the assumption that the government will rescue them when necessary, the International Monetary Fund said. "Until now, lots of these organizations have been able to attract funding based on implicit guarantees," said Masoud Ahmad, the IMF's director of Middle East and Central Asia. "It is now clear these organizations will need to attract funding based on their own financial strength."

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Gulf News (United Arab Emirates) · Khaleej Times (United Arab Emirates) · Maktoob

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