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United Arab Emirates : 2009 Article IV Consultation: Staff Report; Public Information Notice; and Statement by the Executive Director for United Arab Emirates.
- Format:
- Book
- Government document
- Author/Creator:
- International Monetary Fund.
- Series:
- IMF Staff Country Reports; Country Report ; No. 2010/042
- IMF Staff Country Reports
- Language:
- English
- Subjects (All):
- International Monetary Fund--United Arab Emirates.
- International Monetary Fund.
- Fiscal policy--United Arab Emirates.
- Fiscal policy.
- Foreign exchange rates--United Arab Emirates.
- Foreign exchange rates.
- Finance--United Arab Emirates.
- Finance.
- United Arab Emirates--Economic policy.
- United Arab Emirates.
- United Arab Emirates--Economic conditions.
- Physical Description:
- 1 online resource (68 p.)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2010.
- Summary:
- The United Arab Emirates (UAE) was adversely affected by a series of external and domestic shocks in 2009, including the global economic slowdown, the shutdown of international capital markets, and the impact of the bursting Dubai property bubble in mid-2008. Oil receipts plummeted, global trade and logistics contracted, as did property and construction activities. Executive Directors have welcomed the ongoing engagement with Dubai World’s creditors and stressed the importance of a speedy, orderly, cooperative, and predictable approach to debt restructuring.
- Contents:
- Cover; Contents; Executive Summary; I. Introduction; Text Tables; 1. Cross-Country Perspective on Wealth and Reserve Adequacy, 2009 or latest; II. Recent Economic Developments; A. Dubai Contracts and Abu Dhabi Expands; B. The Dubai World Debt Situation and Ramifications; Figures; 1. Growth Engines; 2. Macroeconomic Impact of Global Financial Crisis; 3. Dubai Property Bubble; 2. Five-Year CDS Spreads; C. The Outlook for 2010 and the Medium Term; Boxes; 1. Dubai World Group
- Insolvency Framework; III. Report on the Policy Discussions; A. The Dubai Model
- B. Policy Mix on the Exit Path from the CrisisC. Dubai's Debt Restructuring and Potential Spillovers; 2. Considerations on Restructuring of State-Owned Entities; D. Financial System Stress Analysis; 3. Banking Sector Performance and Soundness; 3. Spillover Risks; 4. The Over-Extended Financial Sector Receives Strong Support; 4. Methodology and Calibration of Stress Test; 4. Stress Analysis; E. Exchange Rate Assessment; F. Structural Issues; 5. Current Account Norms vs. Actual and Projected Current Account Using MB Approach
- 6. Current Account Norms vs. Projected Current Account Under Constant Real Per Capita AnnuityIV. Staff Appraisal; Tables; 1. Selected Macroeconomic Indicators, 2005-10; 2. Balance of Payments, 2005-10; 3. Consolidated Government Finances, 2005-10; 4. Monetary Survey, 2005-10; 5. Medium-Term Baseline Scenario, 2010-15; 6. Selected Indicators of External Vulnerability, 2005-08; 7. Financial Sector Indicators, 2005-09; Annex; The U.A.E. Federation and the Dubai Debt Situation; Contents; I. Fund Relations; II. Relations with the World Bank Group; III. Statistical Issues; Attachment
- Draft Public Information Notice
- Notes:
- "March 2010."
- Includes bibliographical references.
- Description based on print version record.
- ISBN:
- 9786612840050
- 9781455291557
- 1455291552
- 9781452712192
- 1452712190
- 9781282840058
- 1282840053
- 9781451801248
- 1451801246
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