MOF and IMF mission discuss UAE’S economic, financial developments
Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, met with the IMF Article IV consultation mission, at the Ministry’s headquarters in Abu Dhabi
Younis Haji Al Khoori, Undersecretary of the Ministry of Finance (MOF), on Tuesday met with the International Monetary Fund (IMF) Article IV consultation mission, at the Ministry’s headquarters in Abu Dhabi.
The meeting was attended by Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry of Finance, and Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organisations at the Ministry of Finance, alongside several officials and specialists from both parties.
During the meeting, part of the IMF’S annual Article IV consultations, the participants discussed the UAE’S economic and financial developments and policies.
Al Khoori welcomed the IMF staff mission and thanked them for the IMF’S efforts in supporting the economic and financial advancement of member countries. He said, “The Ministry of Finance prioritises the annual consultations it holds with the IMF, because we are keen to benefit from the recommendations of the Fund’s experts and specialists around fiscal policies and government financial frameworks, to be in line with international standards and best practices.” During the meeting, attendees reviewed the latest developments in the country’s financial and economic conditions and macro-economic policy, including the progress made in the financial framework, and the progress of the Government Financial Policy Coordination Council.
In addition, the participants discussed public debt, issuance plans, corporate tax, public revenues and expenditures, financial statements, as well as issues related to energy and green finance, and other topics of mutual interest.
As part of its visit until 16th May, the Article IV Consultation Mission at the International Monetary Fund will hold a series of meetings with relevant UAE stakeholders.
Meanwhile the Ministry of Finance (MOF) participated in the 2024 Islamic Development Bank (ISDB) Group Annual Meetings held from April 27th to 30th, 2024 in Riyadh, Saudi Arabia. This year’s annual meetings coincided with the Golden Jubilee of ISDB, marking the bank’s 50th anniversary since its establishment.
The Board of Governors and General Assemblies are the ISDB Group’s highest decisionmaking bodies. The annual meetings, held under the theme “Cherishing our Past Charting our Future: Originality, Solidarity and Prosperity”, brought together delegations from member countries and observers from international and regional organisations to discuss development issues and institutional matters.
Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, headed the UAE delegation participating in the meetings, which included Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry of Finance, and several specialists from the Ministry.