IMF says debt restructuring of UAE companies is key

30 November 2010

Successful restructuring of troubled UAE companies will help to determine the International Monetary Fund’s outlook for its economy

John Lipsky, the first deputy managing director of the International Monetary Fund (IMF) has said the successful restructuring of troubled UAE companies will help to determine the IMF’s outlook for its economy, The National has reported. Several companies, including government-related entities, are pressing ahead with refinancing debts or restructuring portfolios to put their businesses on a sustainable footing after the global financial crisis. “The issue of dealing with that will be important, as will other issues like the outlook for energy prices [and] global growth,” Lipsky was quoted as saying.

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