Why debt at Dubal World is

As conglomerate Dubai World delays debt payments, most analysts look for Arab Monetary Fund to step in to avert a crisis in financial markets. That’s not likely, though, until Sunday.

How can Dubai, a tiny emirate on the Persian Gulf, shake financial markets from Shanghai to New York?

The answer is familiar to tens of thousands of Americans struggling to make payments on their mortgages or credit cards: too much debt… On Thursday, Dubai World, a conglomerate, shook world financial markets by asking for a six-month moratorium on paying interest on debt estimated at between $60 billion and $90 billion. [read more…]

By Ron Scherer  |  Staff writer for csmonitor.com | posted: 27 Nov 2009