IMF Executive Board Concludes 2008 Article IV Consultation with the United Arab EmiratesPress Release No. 09/45
February 23, 2009
On January 9, 2009, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the United Arab Emirates.
Under Article IV of its Articles of Agreement, the IMF has a mandate to exercise surveillance over the economic, financial, and exchange rate policies of its members in order to ensure the effective operation of the international monetary system. The IMF's appraisal of such policies involves a comprehensive analysis of the general economic situation and policy strategy of each member country aimed at helping member countries achieve orderly macroeconomic and financial conditions and sustainable economic growth. IMF economists visit the member country, usually once a year, to collect and analyze data and hold discussions with government and central bank officials. Upon its return, the staff submits a report to the IMF's Executive Board for discussion. The Board's views are subsequently summarized and transmitted to the country's authorities.