UAE finance ministry, IMF set to deepen ties

The UAE Ministry of Finance (MoF) said the country has attained a prestigious status in terms of its relations with international financial institutions, specifically the International Monetary Fund (IMF).

Christine Lagarde, managing director of the IMF, is making her first official visit to the UAE this week to participate in the activities of the Arab Financial Forum. During her visit, Lagarde will meet with senior political and economic figures in the UAE, including Shaikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance; and Obaid Humaid Al Tayer, Minister of State for Financial Affairs.

The meeting will highlight the joint relations between the UAE and the IMF and ways to develop it further. This is following directives of the UAE’s leadership to consolidate joint relations with various international financial institutions and strengthen the country’s position as a global hub for similar institutions, which will raise the UAE’s competitiveness in fields of financial policies.

Al Tayer said: “The Ministry of Finance continues to consolidate the UAE’s position as a regional and international hub to support economic development and enhance financial policies that drive growth at the level of Arab countries. This is following the belief of the UAE’s wise leadership to promote employment opportunities and ensure high standards of welfare to the people.”