United Arab Emirates: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the United Arab Emirates

October 16, 2007

Summary

The 2007 Article IV Consultation on the United Arab Emirates (UAE) examines the near- and medium-term outlook, inflation, and fiscal policy. The rapid expansion is supported by an outward-oriented development strategy and sustained high oil prices. Reforms are under way to strengthen the prudential and regulatory oversight of the banking system and the capital markets; to open the banking sector to greater competition; and to strengthen the legal framework for the financial sector. Executive Directors agreed that the key challenges will be to ensure sustained noninflationary growth and further diversification of the economy.

Subject: Banking, Commercial banks, External position, Financial institutions, Foreign assets, Foreign exchange, Income, National accounts, Oil prices, Prices, Real effective exchange rates

Keywords: Central Asia, Commercial banks, CR, East Asia, Foreign assets, Global, government, Income, ISCR, Middle East, Oil prices, Real effective exchange rates, staff appraisal, U.A.E. banking sector, U.A.E. dirham, U.A.E. financial system, U.A.E. government strategy, U.A.E.'s capital markets

Pages:
46
Volume:
2007
DOI:
https://doi.org/10.5089/9781451801170.002
Issue:
347
Series:
Country Report No. 2007/347
Stock No:
1AREEA2007001
ISBN:
9781451801170
ISSN:
1934-7685

Loading component...

IMF’s Work

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

Loading component...

IMF Staff Country Reports