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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
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2007: Issue 347
Language:
English
Publication Date:
16 Oct 2007
DOI:
https://doi.org/10.5089/9781451801170.002
ISBN:
9781451801170
ISSN:
1934-7685
Pages:
46
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
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund