Saturday 25 June 2022 - 9:09:06 am

Ministry of Finance meets with IMF Article IV Consultations’ Mission

DUBAI, 2nd March, 2022 (WAM) -- Younis Haji Al Khoori, Undersecretary of Ministry of Finance (MoF), met with International Monetary Fund (IMF) Article IV consultations’ Mission. The meeting took place virtually as part of the IMF’s annual consultations to discuss the UAE’s economic and financial performance.

The relevant departments of the ministry attended the meeting, along with Dr. Mahmoud Mohieldin, Executive Director of the Arab Group at the IMF and Ali Al-Eyd, Article IV Consultations’ Mission Chief, and a number of the IMF employees.

Al Khoori stressed on the importance of the consultations that the Ministry of Finance is conducting with the IMF, to review the opinions of experts regarding the country’s economy. "The Ministry of Finance is keen to continue working with all strategic partners, foremost of which is the IMF, to advance the financial and monetary policies in the country, in line with the best international practices and standards," he said.

The meeting sought to review the main aims and focus of the Article IV Consultations’ Mission. Both parties deliberated the UAE’s fiscal responses to COVID-19, progress on UAE-wide fiscal framework, government financial resources, the UAE’s Federal Budget, and fiscal outturns and performance in 2021-2022. They also discussed the UAE’s macroeconomic policies, fiscal policy coordination, public debt as of end of 2021 and issuance plans, as well as other topics of common interest.

Article IV Consultations’ Mission will hold a series of virtual meetings with the rest of the concerned authorities in the country, from February 28 to March 10, 2022.

WAM/Lina ibrahim/Tariq alfaham