UAE Finance Ministry And IMF Discuss Economic Policies In Article IV Consultation

In a significant development for the United Arab Emirates' economic landscape, Younis Haji Al Khoori, the Undersecretary of the Ministry of Finance, engaged in a pivotal meeting with the International Monetary Fund (IMF) Article IV consultation mission. This assembly took place at the Ministry's headquarters in Abu Dhabi, marking a crucial step in the annual evaluation of the nation's financial and economic policies.

The session saw the participation of key figures such as Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry of Finance, and Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organisations. The meeting was also attended by several officials and specialists from both sides, underlining the importance of this consultation.

The discussions revolved around the UAE's recent economic and financial developments and policies. Al Khoori expressed his gratitude towards the IMF for its continuous support in enhancing the economic and financial framework of member countries. He emphasized the significance of these annual consultations with the IMF, highlighting the UAE's commitment to aligning its fiscal policies and government financial frameworks with international standards and best practices.

Attendees delved into various subjects including the latest updates on the country's financial and economic conditions, macro-economic policy, advancements in the financial framework, and the progress made by the Government Financial Policy Coordination Council. The dialogue also covered topics such as public debt, issuance plans, corporate tax, public revenues and expenditures, financial statements, alongside issues related to energy and green finance.

This meeting is part of a broader series of discussions that will continue until 16th May, involving various stakeholders within the UAE. These consultations are integral to ensuring that the UAE's economic policies are robust, sustainable, and conducive to long-term growth.

The collaboration between the UAE Ministry of Finance and the IMF through these Article IV consultations demonstrates a mutual commitment to fostering a stable and flourishing economic environment. It reflects the UAE's proactive approach in seeking expert advice to refine its financial policies in line with global best practices.

With inputs from WAM