Mof Discusses Latest Financial And Economic Developments In The UAE With IMF Article IV Consultation Mission
(MENAFN- Mid-East Info) The UAE Ministry of Finance MoF received a delegation from the International Monetary Fund IMF on Wednesday at its headquarters in Abu Dhabi for the annual Article IV consultation, reviewing the nation's economic outlook and policy framework.
The discussions touched on the UAE's macroeconomic performance, developments in its financial and banking sectors, and the government's broader economic policies. Both sides also explored primary challenges and opportunities for fostering the UAE's sustainable economic growth. The MoF delegation was led by HE Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, and included Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry, alongside other ministry officials. The IMF team was headed by Saeed Bakash, Head of the IMF Mission to the UAE and Advisor in the Middle East and Central Asia Department, and Koralai Kirabaeva, Senior Economist at the Fund, and a number of Fund experts. Strategic partnership: In a statement, H.E. AlKhoori emphasised that the meeting with the IMF's Article IV consultation mission showcases the depth of the UAE's strategic partnership with the Fund.“We, at the Ministry of Finance, attach utmost importance to strengthening this cooperation, as the IMF remains a key partner in supporting our efforts to advance fiscal and economic policy and to adopt international best practices that enhance the resilience and sustainability of the national economy.” “Through these regular consultations, we are committed to fostering open dialogue and exchanging expertise, enabling us to design financial policies that keep pace with regional and global developments.” Promoting balanced growth: His Excellency further stated that the Article IV consultations provide a vital platform to showcase the UAE's successful experience in fostering balanced and inclusive economic growth. AlKhoori noted that these discussions help consolidate the nation's position as a leading global economic hub attractive to quality investment and new international partnerships. “We are committed to continually developing our financial system to ensure sustainable development and safeguard macroeconomic stability,” he said.“This enhances our preparedness for future challenges and drives a competitive, innovation-led economy that promotes the well-being of our society.” The mission's visit to the UAE, which began on September 17 and concludes on October 1, is a standard part of the IMF's annual review process for its member countries.
The discussions touched on the UAE's macroeconomic performance, developments in its financial and banking sectors, and the government's broader economic policies. Both sides also explored primary challenges and opportunities for fostering the UAE's sustainable economic growth. The MoF delegation was led by HE Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, and included Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry, alongside other ministry officials. The IMF team was headed by Saeed Bakash, Head of the IMF Mission to the UAE and Advisor in the Middle East and Central Asia Department, and Koralai Kirabaeva, Senior Economist at the Fund, and a number of Fund experts. Strategic partnership: In a statement, H.E. AlKhoori emphasised that the meeting with the IMF's Article IV consultation mission showcases the depth of the UAE's strategic partnership with the Fund.“We, at the Ministry of Finance, attach utmost importance to strengthening this cooperation, as the IMF remains a key partner in supporting our efforts to advance fiscal and economic policy and to adopt international best practices that enhance the resilience and sustainability of the national economy.” “Through these regular consultations, we are committed to fostering open dialogue and exchanging expertise, enabling us to design financial policies that keep pace with regional and global developments.” Promoting balanced growth: His Excellency further stated that the Article IV consultations provide a vital platform to showcase the UAE's successful experience in fostering balanced and inclusive economic growth. AlKhoori noted that these discussions help consolidate the nation's position as a leading global economic hub attractive to quality investment and new international partnerships. “We are committed to continually developing our financial system to ensure sustainable development and safeguard macroeconomic stability,” he said.“This enhances our preparedness for future challenges and drives a competitive, innovation-led economy that promotes the well-being of our society.” The mission's visit to the UAE, which began on September 17 and concludes on October 1, is a standard part of the IMF's annual review process for its member countries.
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