The International Monetary Fund (IMF) has said the Dubai World debt restructuring “will not have a large impact” on the flow of remittances out of the UAE.

The UAE accounts for nearly 13 per cent of the total remittance flow into India, with as many as 42 per cent of the 1.5 million population of Dubai being Indians.

Noting that remittances worth $10 billion (Dh36.7 billion) go out of the UAE, a top IMF official has said the Dubai debt restructuring might have some effect on those outflows.