H.E. Sultan bin Saeed Al Mansouri has clarified that specialised government departments are managing the debt concerns of Dubai, and said that the reports quoting him on the Emirate potentially getting more financial aid from the UAE Government or Abu Dhabi are misrepresented.
Al Mansouri said that is a media campaign targeting the UAE aimed at diverting the real picture of the economy and to confuse the public. "I am confident this campaign will not impact the reputation of the UAE and our national economy has proven its strength and ability to deal with global challenges."
"The UAE has already taken concerted efforts to meet the challenges arising from the global financial crisis. Several practical steps were initiated include guaranteeing bank deposits for three years and injecting liquidity into the banking system whereby AED 120 billion has been earmarked by the UAE Central Bank and the Ministry of Finance," Al Mansouri said.
He said that some media exaggerated the UAE's economic situation adding that if there is any criticism towards the UAE then it should be objective and in the right place. "We accept any kind of criticism but that must be based on facts and reality and not illusions and speculation," he added. - Emirates News Agency, WAM
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