Your Dubai miracle

"A support fund created to help Dubai pay its debts has “insufficient” resources to cover the billions of dollars of debt coming due, an analyst at the credit-rating firm Standard & Poor’s said Sunday. The sheikdom and its network of state-controlled companies amassed at least $80 billion in debt on projects like artificial islands and opulent high-rises during a multiyear building boom that helped the city-state fashion itself into the Middle East’s hub of finance, trade and tourism. About $50 billion of debt needs to be covered over the next three years, said Farouk Soussa, S.& P.’s head of Middle East government ratings. A lack of government information has left investors wondering how it all will be repaid or refinanced."