Dubai World has announced it would request a six month debt payment extension for its $58 billion dollar debt. Fair enough. Even though there are clear-cut rules to lending and contracts were signed in the beginning, what is written on paper may not always materialize. Everything is an assumption.
My take on that is yes, the extension shoould be granted. It's not the first time in history that a conglomerate is unable to pay off its loans on time, and it's no surprise, given the economic situation, no matter what press releases and optimists say.
It's a holiday, so I will let my brain take a back seat and let my emotions run free like a fool, because I'm girly like that. So why give leeway? Because we all make mistakes and we deserve a second chance in everything. Any delay caused by an unfortunate series of events that got out of hand is of course a hassle to the parties awaiting results or payments or a mere update. It's agonizing and it brings about insecurity and hostility.
But if the borrower is transparent and takes reassuring steps towards a sound alternative payment plan, I don't see why things can't work out.
Let's drop the borrower-debtor situation and zoom out to the big picture. Let's talk about ourselves. Each person has a vision, whether short-term or long-term. And that vision is backed by the belief that that happy place he sees in his head will soon take place in real life at the right time. So he works on it and makes it happen. He sets a deadline and is determined to beat it!
But there are obstacles. Unexpected events, people in his way, or bad weather. So he buys time. He allows himself more time but never takes his eyes off the light at the end of the tunnel. So he gets there, slowly but surely, and he feels his adrenaline pump up when his goals begin to take shape.
Or there is an alternative ending to it. He may lose sight of his goals. Consequently he may not find the strength to carry on, and may likely waste away. Which in my book is NOT an option. It is simply not.
Each of us has a personal battle. We are both the borrower and the lender. We owe ourselves our future. And we patiently wait for ourselves to reach it. We give and take to ourselves by allowing grace periods to right the wrong and clean up our mess. We give ourselves a pat on the back when we meet our deadlines. We reprimand ourselves when we falter. Then we get back on our feet.
And the last five words of the last sentence are the most important thing I have written in this entry so far.
Like, I can dive into a pool of shit, swim there all day, but at the end of the day I can towel it all off and take a long hot bath.
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