{
  "title": "United Arab Emirates: Staff Report for the 2012 Article IV Consultation",
  "publication": "IMF Staff Country Reports, May 18, 2012",
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  "summary": "This 2012 Article IV Consultation highlights that the economic recovery in the United Arab Emirates is continuing despite the uncertain global economic environment.",
  "publishDate": "2012-05-18",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive summary",
      "content": "- The economic recovery in the United Arab Emirates is continuing despite the uncertain global economic environment.\n- The banking sector has remained well capitalized and profitable, despite a continued rise in nonperforming loans and higher provisioning.\n- Executive Directors welcomed the continued economic recovery and favorable near-term outlook, but noted downside risks from the uncertain global environment.\n- Directors encouraged the authorities to continue efforts to sustain growth and diversify the economy, while maintaining macroeconomic and financial stability."
    },
    {
      "heading": "Macroeconomic outlook and risks",
      "content": "- Recovery continues amid global uncertainty.\n- Near-term outlook characterized as favorable by Executive Directors.\n- Downside risks highlighted from the uncertain global environment."
    },
    {
      "heading": "Banking sector and financial stability",
      "content": "- Banking sector findings:\n  - Remained well capitalized.\n  - Remained profitable.\n  - Experienced a continued rise in nonperforming loans.\n  - Faced higher provisioning requirements."
    },
    {
      "heading": "Policy recommendations and authorities' priorities",
      "content": "- Continue efforts to sustain economic growth.\n- Pursue economic diversification to reduce reliance on oil and related sectors.\n- Maintain macroeconomic stability.\n- Preserve financial stability through continued oversight of banking sector asset quality and provisioning.\n\n---\n\n Content in this bundle\n\n- United Arab Emirates: 2012 Article IV Consultation; IMF Country Report 12/116; April 27, 2012\n  - United Arab Emirates: 2012 Article IV Consultation; IMF Country Report 12/116; April 27, 2012 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - United Arab Emirates: 2012 Article IV Consultation; IMF Country Report 12/116; April 27, 2012 (PDF){rel=\"external\" type=\"application/pdf\"}\n- cr12116a\n  - cr12116a (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr12116a (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/united-arab-emirates-staff-report-for-the-2012-article-iv-consultation-25930"
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    "Published: May 18, 2012",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475503692.002",
    "The economic recovery in the United Arab Emirates is continuing despite the uncertain global economic environment.",
    "The banking sector has remained well capitalized and profitable, despite a continued rise in nonperforming loans and higher provisioning.",
    "Executive Directors welcomed the continued economic recovery and favorable near-term outlook, but noted downside risks from the uncertain global environment.",
    "Directors encouraged the authorities to continue efforts to sustain growth and diversify the economy, while maintaining macroeconomic and financial stability.",
    "Recovery continues amid global uncertainty.",
    "Near-term outlook characterized as favorable by Executive Directors.",
    "Downside risks highlighted from the uncertain global environment.",
    "Banking sector findings:",
    "Continue efforts to sustain economic growth.",
    "Pursue economic diversification to reduce reliance on oil and related sectors.",
    "Maintain macroeconomic stability.",
    "Preserve financial stability through continued oversight of banking sector asset quality and provisioning.",
    "**United Arab Emirates: 2012 Article IV Consultation; IMF Country Report 12/116; April 27, 2012**",
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