United Arab Emirates: 2009 Article IV Consultation: Staff Report; Public Information Notice; and Statement by the Executive Director for United Arab Emirates

February 19, 2010

Preview Citation

Format: Chicago

United Arab Emirates: 2009 Article IV Consultation: Staff Report; Public Information Notice; and Statement by the Executive Director for United Arab Emirates, (USA: International Monetary Fund, 2010) accessed December 25, 2024

Summary

The United Arab Emirates (UAE) was adversely affected by a series of external and domestic shocks in 2009, including the global economic slowdown, the shutdown of international capital markets, and the impact of the bursting Dubai property bubble in mid-2008. Oil receipts plummeted, global trade and logistics contracted, as did property and construction activities. Executive Directors have welcomed the ongoing engagement with Dubai World’s creditors and stressed the importance of a speedy, orderly, cooperative, and predictable approach to debt restructuring.

Subject: Asset and liability management, Banking, Commercial banks, Credit, Debt restructuring, External debt, Financial institutions, Foreign assets, Loans, Money

Keywords: Asia and Pacific, Authority, Bursting Dubai property bubble, Commercial banks, CR, Credit, Debt restructuring, Economy, Economy well, Global, Government of the U.A.E., ISCR, Liability positions vis-à-vis nonresident, Loans, Property bubble, U.A.E. dirham, U.A.E.'s economy

Publication Details

Pages:

67
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2010/042
Stock No:

1AREEA2010001
ISBN:

9781451801248
ISSN:

1934-7685

FACTSHEETS

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

IMF Staff Country Reports