Talk of banks in the UAE needing to lengthen the maturity of real estate loans may be the first sign that the country’s property slump is starting to cause fresh debt problems. Elsewhere, Oman may not have any large FX debt repayments due in 2019-20, but it is still dependent on external financing conditions remaining favourable. If devaluation concerns build, the authorities will be forced to seek a bailout from the rest of the Gulf.
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