Abu Dhabi: «The Gulf»
Within the framework of the Article IV consultations that the International Monetary Fund conducts annually on the economic and financial performance of the UAE, Younis Haji Al-Khoury, Undersecretary of the Ministry of Finance, met with the Article IV Consultation Mission at the International Monetary Fund, via video communication techniques, to discuss the latest financial and economic developments of the country.
The meeting was held in the presence of the Undersecretary and the concerned departments in the ministry, in the presence of Dr. Mahmoud Mohieldin, CEO of the Arab Group at the International Monetary Fund and head of the mission, Ali Al-Eid, and a number of Fund employees.
best practices
Younis Haji Al-Khoury stressed the importance of the consultations that the Ministry of Finance is conducting with the International Monetary Fund, to see the opinions of experts regarding the country’s financial policies. He said, “The Ministry of Finance is keen to continue working and coordinating with all strategic partners, led by the International Monetary Fund, to advance the country’s fiscal and monetary policies and ensure its adherence to best practices and international standards.”
The meeting reviewed the main objectives and main focus areas of the Article IV consultation mission. During the meeting, the two sides also discussed several issues related to the financial response set by the UAE to face the repercussions of Covid-19, the progress made in the financial framework at the level of the UAE, government financial resources, and the federal budget of the UAE Financial performance and financial operations for the year 2021-2022, macro-financial policies in the country, public debt until the end of 2021 and issuance plans, and other topics of common interest.
It is worth noting that the Article IV Consultation Mission will hold a series of virtual meetings with the rest of the concerned authorities in the country, during the period from February 28 to March 10, 2022.
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