The World Expo in Dubai closes its doors today and, while it has provided a near-term fillip to the economy, we are concerned that it will leave a legacy of overcapacity in key sectors that reignites the Emirate’s long-standing debt problems. Elsewhere, Saudi Arabia, the UAE, and Qatar have all pledged financial support to Egypt this week and should help to alleviate some of the strains in the country's balance of payments. But it may raise questions over officials’ appetite to secure financial support from the IMF.
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