{
  "title": "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",
  "publication": "IMF Staff Country Reports, October 16, 2007",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/united-arab-emirates-2007-article-iv-consultation-staff-report-staff-statement-public-21402",
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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.",
  "publishDate": "2007-10-16",
  "series": "IMF Staff Country Reports",
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    {
      "heading": "Overview",
      "content": "- The 2007 Article IV Consultation on the United Arab Emirates (UAE) examines the near- and medium-term outlook, inflation, and fiscal policy.\n- The rapid expansion is supported by an outward-oriented development strategy and sustained high oil prices.\n- Reforms are under way to:\n  - strengthen the prudential and regulatory oversight of the banking system and the capital markets;\n  - open the banking sector to greater competition; and\n  - strengthen the legal framework for the financial sector.\n- Executive Directors agreed that the key challenges will be to ensure sustained noninflationary growth and further diversification of the economy."
    },
    {
      "heading": "Near- and Medium-Term Outlook, Inflation, and Fiscal Policy",
      "content": "- Focus areas of the consultation:\n  - near- and medium-term economic outlook;\n  - inflation developments; and\n  - fiscal policy stance.\n- Growth drivers identified:\n  - outward-oriented development strategy;\n  - sustained high oil prices."
    },
    {
      "heading": "Financial Sector Reforms",
      "content": "- Ongoing reforms highlighted:\n  - strengthen prudential oversight of the banking system;\n  - strengthen regulatory oversight of the capital markets;\n  - increase competition in the banking sector by opening it to greater competition;\n  - strengthen the legal framework governing the financial sector."
    },
    {
      "heading": "Policy Challenges and Recommendations",
      "content": "- Key challenges agreed by Executive Directors:\n  - ensure sustained noninflationary growth;\n  - further diversify the economy away from oil dependence.\n\n---\n\n Content in this bundle\n\n- cr07347\n  - cr07347 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr07347 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/united-arab-emirates-2007-article-iv-consultation-staff-report-staff-statement-public-21402"
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    "Published: October 16, 2007",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451801170.002",
    "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:",
    "Executive Directors agreed that the key challenges will be to ensure sustained noninflationary growth and further diversification of the economy.",
    "Focus areas of the consultation:",
    "Growth drivers identified:",
    "Ongoing reforms highlighted:",
    "Key challenges agreed by Executive Directors:",
    "**_cr07347**"
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