UAE

July 2008 | Ratings Update

Labour unrest and riots by South Asian workers continue to plague the UAE's construction sector. Low pay and poor living conditions are common themes for complainants, and with around 1.5mn expatriates from India alone, any exodus would severely hamper the multitude of construction projects underway across the state. Meanwhile, we welcome the news that the UAE has agreed to forgive US$7bn of Iraqi debt, making it the first Arab nation to write off Baghdad's debt following the US-imposed regime change. This move may encourage other Arab states to follow suit, and to consequently enhance regional stability.

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