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
Volume/Issue:
Volume 2007
Issue 347
Publication date: October 2007
ISBN: 9781451801170
$20.00
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Topics covered in this book
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Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , 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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Summary
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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