MARKET TALK: Dubai's Total Debt May Be $150 Billion - EFG |
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Monday, Nov 30, 2009
1015 GMT [Zawya Dow Jones]--Dubai's debt could total $150 billion if you include bilateral loans, says EFG Hermes. Says its $84.2 billion estimate for Dubai's debt only includes capital market debt such as bonds, sukuk and syndicated loans for Dubai Inc. companies. "If you include bilateral loans and missing information, we estimate that the figure could be between $120 billion and $150 billion," says GCC strategist Fahd Iqbal. Emirates NBDEmirates NBD
has the highest level of public lending at about $24 billion split evenly between sovereign debt and GREs. "If we assume that total bilateral loans to Dubai are double this amount, then bilateral lending alone could add some $50 billion to our estimates," says Iqbal. (SHB)
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(END) Dow Jones Newswires
30-11-09 1015GMT
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