Bank of America-Merrill Lynch

Dubai World can repay 2015 debt in full: US bank

Dubai World can repay its 2015 maturity in full, while 2016 looks to be more challenging with approximately $6bn in restructured debt coming due, according to Jean-Michel Saliba, Mena Economist at Bank of America-Merrill Lynch. In the near-term, Dubai should be able to tackle refinancing challenges, but the possible increase in government external borrowing needs is set to take place against a more challenging backdrop, Saliba said. Direct impact of low oil prices will be more muted in UAE than in other GCC countries - thanks to Dubai's diversified economy, he added.

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