United Arab Emirates: Staff Report for the 2012 Article IV Consultation

International Monetary Fund

No 2012/116, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2012 Article IV Consultation highlights that the economic recovery in the United Arab Emirates is continuing despite the uncertain global economic environment. The banking sector has remained well capitalized and profitable, despite a continued rise in nonperforming loans and higher provisioning. Executive Directors have welcomed the continued economic recovery and favorable near-term outlook, but noted downside risks from the uncertain global environment. Directors have encouraged the authorities to continue their efforts to sustain growth and diversify the economy, while maintaining macroeconomic and financial stability.

Keywords: ISCR; CR; Dubai World debt restructuring; financial crisis well; debt; policy; government; GRE debt; government-related entities; emirate government; Commercial banks; Oil prices; Fiscal stance; Nonperforming loans; Global; Asia and Pacific; South Asia (search for similar items in EconPapers)
Pages: 47
Date: 2012-05-18
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