While Dubai World to present on Thursday a plan to restructure its debt of 23.5 billion dollars, the government of Dubai, through its fund for financial support in place last July, will provide financial support 9.5 billion dollars in conglomerate.
These funds "come from $ 5.7 billion remaining of a loan made earlier by the government of Abu Dhabi and own resources of the Government of Dubai," the statement said.
Dubai World said that its total debt was 23.5 billion dollars but that the Dubai government had proposed to convert its equity share of 8.9 billion dollars, or 38% of total debt instant payday loan! !???!!!???!!!.The 14.6 billion U.S. dollars remaining will be reimbursed at 100% over a period of five to eight years, says Dubai World.
The total debt of Dubai, meanwhile, is estimated between 80 and 100 billion dollars but some experts say could reach $ 170 billion.
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