Middle-east Arab News Opinion | Asharq Al-awsat

Official: UAE can overcome challenges | ASHARQ AL-AWSAT English Archive 2005 -2017
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DUBAI, United Arab Emirates (AP) – The United Arab Emirates’ economy minister says the country can overcome any upcoming challenges, voicing confidence in its future even as investors worry about Dubai’s crushing debt load.

The UAE’s official WAM news agency quoted Sultan Al Mansouri as saying Wednesday that the country’s economy is “built on a solid foundation able to withstand crisis and challenges, no matter how difficult.”

The comments come as Dubai World, the conglomerate behind some of Dubai’s most high profile investments and projects, is looking to restructure $26 billion of its $60 billion in debts.

Dubai World’s call to delay debt repayments shook international and regional markets, raising fears of a default that could indicate troubles ahead in other emerging markets.