The Central Bank of UAE announced Sunday the provision of additional liquidity to consolidate the banking system reassure investors shaken by the debt crisis of Dubaï. An announcement of the Central Bank, based in Abu Dhabi where concentrated oil wealth, occurred on the eve of the opening of markets in Dubai and Abu Dhabi where analysts fear a “Black Monday”.

Dubai Wednesday announced a moratorium of at least six months on the debt of his conglomerate Dubai World shortly after the closure of regional exchanges to leave the Muslim feast of Adha. But the announcement was very badly received by the markets Asian, European and American investors feared insolvency of Dubai for its government debt of 80 billion dollars.
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November 29th, 2009
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