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Abu Dhabi on October 13
His Excellency Khaled Mohammed Al-Amaa, Governor of the Central Bank of the United Arab Emirates, met with the International Monetary Fund mission headed by Mr. Ali Al-Eid, during a visit the mission made to the UAE to review the country’s economic and financial developments.
The Fund’s mission met with many decision-makers and policy makers from various government departments. To discuss developments in the monetary and financial system, future prospects, and priorities of financial policies and legislation in the UAE.
At the conclusion of the meetings, the International Monetary Fund praised the constructive dialogue with stakeholders from government departments and issued a statement on the most prominent results reached by the two sides.
The Fund also praised the social developments and measures supporting businesses that continue to attract talent and the influx of foreign capital and accelerate the country’s economic growth, pointing out that the UAE economy continues to benefit from strong local activity, as the growth of the country’s non-oil gross domestic product was estimated to exceed 4% this year. With expectations that it will continue to grow at the same pace through 2024.
The International Monetary Fund praised the continued efforts made by the UAE to strengthen macroprudential policy, develop recovery frameworks, effectively manage non-performing loans, and strengthen the national action plan to confront money laundering and combat the financing of terrorism.
His Excellency Khalid Mohammed Al-Amaa, Governor of the UAE Central Bank, said: “We value ongoing cooperation and dialogue with prominent international stakeholders, such as the International Monetary Fund. We are committed to following international best practices to enhance financial stability and contribute to supporting sustainable global economic growth.”
