ABU DHABI, 26th October, 2016 (WAM) — The Ministry of Finance, MoF, has reviewed with the International Monetary Fund, IMF, its financial and economic performance, as well as its achievements and policies that support the economy.
The review was undertaken during a meeting between Younis Haji Al Khoori, Under-Secretary of the MoF, and Dr. Natalia Tamirisa, Head of the IMF mission for Article IV, in the presence of Khalid Ali Al Bustani, Assistant Under-Secretary for International Financial Relations Sector at the MoF, and a number of heads of departments from ministry.
“The ministry continuously seeks to open channels of communications with IMF experts, to implement the best international practices in developing government financial work mechanisms, which in turn enhances the federal government’s financial policy and support the UAE’s overall economy. We look forward to holding more such meetings in the future as they offer the opportunity to highlight the country’s achievements,” Al Khoori said after the meeting.
In the meeting, which took place in Abu Dhabi, the ministry reviewed its latest achievements and projects, as well as the financial performance indicators, monetary and financial policies, and the bankruptcy law. The ministry also discussed the co-operation among GCC countries on value-added tax (VAT), and the country’s efforts for economic diversification and innovation and the dependence on oil revenues.
The IMF’s mission concluded the meeting by praising the UAE’s efforts in developing its financial performance indicators and the country’s ability to overcome international economic conditions.
The Ministry of Finance had previously held a number of meetings with the IMF’s Article IV Mission to review the ministry’s achievements and financial policies that support the economy, and the strong growth from its prudent financial policies and sound economic methodology.