From the Wall Street Journal: "This Mideast boomtown's government has hired financial advisers to review its investments amid a global credit crunch that has pushed up the cost of financing the emirate's large debt, according to senior Dubai officials. ... Analysts say Dubai may find it difficult to refinance its massive debt as international capital markets have become increasingly difficult to access. Dubai's rulers have financed economic diversification and rapid growth with the help of overseas borrowing through state-controlled corporate entities."
Copyright Obser - Observer
