A senior IMF official said that the International Monetary Fund is concerned over the developments in Dubai and a team from IMF would soon visit the city to study the impact of Dubai World's crisis on the global economic recovery.

Masood Ahmed, IMF Director for the Middle East and Central Asia added that the economic body would review its assessments after visiting Dubai and suggest some measures to mitigate its impact on the economy.

Dubai Debt crisis is being seen as a major setback for the growth of UAE as well as other countries whose banks have significant exposure in the troubled Dubai World. The reports of crisis had plunged markets across the world besides tarnishing the image of the Emirate as a business hub and decreasing the morale of investors across the world.

Speaking on the sidelines of the Arab Global Forum, Ahmed said that the crisis would also make banks more skeptical about lending to government-backed companies besides asking for more transparencies of guarantees on quasi-sovereign debt.

Ahmed added, "Lenders and investors will want to look at their balance sheets, their profit/loss statements, their liabilities and assets, in the way they would for any other borrower,"