Dubai’s debts still a major cause for concern

Fears over Dubai’s debts have re-emerged in recent weeks and, in this Update, we provide revised estimates of the Emirate’s debt pile. The short point is that the debts of Dubai’s government and of government-related entities remain large, and with the coronavirus outbreak exacerbating strains in key sectors, servicing these debts is likely to prove difficult and Abu Dhabi may need to offer financial support.