Dubai Rolls Over $20 Billion at Below National Inflation Rate

Dubai has recently refinanced 20 billion dollars in order in order to free cash and fund expansion plan. The sheikdom rolled over $10 billion of bonds to the central bank at 1%. The government also loaned $10 billion  at a rate of 1%. It will be interesting to see if this act will increase its credit. Dubai has seen a decrease in lending of late. The sheikdom is hoping that by refinancing their funds, they will have higher credit worthiness and also increase lending.