Reuters reports that Dubai’s finance chief said on Thursday the global market reaction to Dubai’s shock debt restructuring was now softening and that the emirate was better at implementing change than publicizing it.
“Of course, the reaction by the global markets was psychological, and came strongly. However, the reaction is now softening as investors became more informed about what happened.” Abdul Rahman Al Saleh said in a speech.
Saleh said the emirate would come out of the crisis as a “winner” if past precedent was anything to go by.
“Let me admit, in Dubai we are not good in publicizing what we are doing as much as we are in doing it,” he said.
