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IMF praises UAE economic and financial developments

ABU DHABI, thirteenth October, 2023 (WAM) — Khaled Mohamed Balama, Governor of the Central Financial institution of the UAE (CBUAE) met with the Worldwide Financial Fund (IMF) mission, led by Ali Al-Eyd, throughout their latest go to to the UAE to debate the nation’s financial and monetary developments.

The IMF mission met with a number of stakeholders and policymakers from throughout varied authorities departments to debate the newest financial and monetary system developments, the outlook, and the UAE’s financial coverage priorities.

Following the conclusion of the conferences, the IMF praised the open dialogue with the authorities and stakeholders and issued a press release on their findings.

The IMF mission applauded the social and business-friendly developments which proceed to draw overseas inflows of capital and expertise, underpinning financial progress.

In keeping with the IMF, the financial system continues to learn from the robust home exercise and estimates non-hydrocarbon GDP progress to exceed 4 p.c this 12 months and stay at an identical tempo in 2024.

Moreover, the IMF welcomed the UAE’s continued efforts to strengthen the macro-prudential and backbone and restoration frameworks, promote the efficient administration of non-performing loans, and advance the Nationwide AML/CFT Motion Plan.

Commenting on the success of the mission, the Governor of CBUAE mentioned, “We worth the continued and clear collaboration with our main worldwide stakeholders, such because the IMF. The CBUAE is dedicated to upholding worldwide greatest practices to assist the continued stability of the monetary system and contribute to sustainable international financial progress.”

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