Dubai stuns global investors by calling for a debt `` standstill '' on Dubai World and Nakheel debts . It has said that the Dubai World debt freeze is the first stage of a restructuring plan . The move comes after the Abu Dhabi government said it would not pay any more of its bills to Dubai, which is struggling with billions in debt.
Dubai stuns global investors by calling for a debt `` standstill '' on Dubai World and Nakheel debts . The move comes after the Abu Dhabi government said it would not pay any more of its bills to Dubai, which is struggling with billions in debt.