The crisis in Dubai?

A few days ago, the world went round with information from the Dubai state fund regarding a request to postpone the debt of up to $ 59 billion by May next year.
Let us remind you that the fund, Dubai World and its real estate department Nakheel carry out several innovative projects, including Palm islands and The World archipelago.
Information about problems with repayment of loans caused panic on global markets. Investors remembering the effects of the crisis of the United States and the Argentine crisis from the beginning of this century began selling out more risky assets, which led to the loss of most indicators. The main index in Dubai today saw the biggest drop in 3 years, losing more than 8%.
The Central Bank of the United Arab Emirates came to help the banks of Dubai, which promised support and guarantee of possible loans.