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

International Monetary Fund

No 2007/347, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; U.A.E.'s capital markets; staff appraisal; government; U.A.E. financial system; U.A.E. dirham; U.A.E. banking sector; U.A.E. government strategy; Commercial banks; Oil prices; Income; Foreign assets; Real effective exchange rates; Middle East; Global; East Asia; Central Asia (search for similar items in EconPapers)
Pages: 46
Date: 2007-10-16
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