Although Dubai has a $10 billion debt, the country is in the process of rejuvenating most of its companies. These include privately-owned companies and state-owned companies. To achieve this goal, the emirate has for the first time in its economic history, presented the prospects of restructuring its bonds in the coming year. The country also has another set of options to achieve its goals. For instance, the company has decided to raise approximately $2 billion from local banks and other financial institutions to boost the operations of state-owned entities. These funds will enable these entities to meet their obligations. This includes three bonds of $3.8 that is expected to mature in the next year. A government official stated that the country is working hard to meet its entire financial obligation. He was confident that the current global economic situation provides favourable conditions for Dubai to meet its financial liabilities. Also, he was confident that the country would be able to negotiate a good deal with commercial bondholders. For the last several decades, the economy of Dubai has been growing at a tremendous rate. However, the country shocked the world two years ago that it was facing a financial crisis. To ensure that the situation would not get any worse, the country borrowed loans that totalled $20 billion to stabilize its economy. This money was borrowed from the United Arabs Emirates. The government is now in the process of repaying these loans. As a result, it has come up with several strategies to ensure that this obligation is met. It has also been in the process of pursuing the bondholders to extend the deadlines of paying these loans to avoid any payment defaults. Moody, the rating firm, believes that Dubai is still in a financial execution. These are per as the reports that the agency is expected to publish in the coming week. Moody has been questioning the bonds refinancing strategy. According to the agency, this is a great risk. Also, the agency believes that this will present a negative image of the country. Therefore, investors will not be interested in the country, and this may reduce the GDP of Dubai. As a result, the country will not even be in a position of paying its debts leave alone reviving its economy. However, another state official was optimistic that 2012 would bring a lot of changes to the economy of Dubai. From the revenue that the country earns from tourism and trade, he believes that the country will be able to support its core activities. To raise more revenue for the country, the country is expected to use its financial reserves to support state-owned entities. These funds will also be used to purchase assets from the state owned entities that need to need to raise more revenue. This will increase its revenue since the state will buy these assets at above market price. The government has also put a lot of efforts to eradicate the debt that Dubai is currently in. It has passed a new law, Decree 57, that allows Dubai World units to restructure their bonds. However, a two-thirds majority vote from the investors is required for this process to be passed. Bonds for companies like Dubai International Financial Centre Investments, Dubai Holding Commercial Operations Group and Jebel Ali Free Zone are expected to reduce Dubais debt to $10 by the end of 2012. However, Moody has high-risk ratings for the companies that have b