Press Release: Statement by an IMF Spokesperson on Dubai
November 29, 2009
Press Release No. 09/433November 29, 2009
The following statement was issued today by a spokesperson for the International Monetary Fund (IMF):
“We are continuing to monitor the situation following the unexpected announcement by the Government of Dubai regarding a standstill on the debt of Dubai World and its Nakheel subsidiary, which has had an adverse impact on financial markets.
”The United Arab Emirates is a strong resource-based economy and we welcome today’s announcement by the Central Bank of the UAE making available to banks a special additional liquidity facility. We look forward to further clarification by the authorities towards a cooperative mechanism to address the issues between these debtors and their creditors.”
IMF EXTERNAL RELATIONS DEPARTMENT
Public Affairs | Media Relations | |||
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E-mail: | publicaffairs@imf.org | E-mail: | media@imf.org | |
Fax: | 202-623-6220 | Phone: | 202-623-7100 |