WGS in Dubai: UAE President, Vice President attend key meeting with IMF’s Kristalina Georgieva – News

The strong performance of the UAE and other Gulf economies is due to reforms implemented over the past few years, according to the IMF managing director

IMF Managing Director Kristalina Georgieva speaks at the World Government Summit in Dubai on Monday. February 13, 2023. Photo: Shihab

In the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE; His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; Kristalina Georgieva speaks during the first day of the 2023 World Government Summit (WGS).

Also present at the meeting were His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council member and Ruler of Ras Al Khaimah; Sheikh Hamdan bin Mohammed bin Rashid, Crown Prince of Dubai Al Maktoum; Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah; and a number of dignitaries and senior officials.

Georgieva said that the UAE economy is one of the most efficient in the world in terms of leading performance in the current challenges. She attributes its success to the UAE’s open-mindedness and effective government policies. In a session moderated by CNN’s Richard Quest, Georgieva ruled out the possibility that the U.S. economy will face a recession this year.

“The resumption of growth in China’s economy is crucial to the global economy because the Chinese market has shown some growth in terms of demand and spending,” she said.

She praised the Gulf countries, India and others for their positive contribution to the global economy. Georgieva said reforms implemented over the past few years were a key factor behind the strong performance of the UAE and Gulf economies.

The IMF managing director also pointed to the UAE’s success in attracting foreign investment and creating more jobs.

Georgieva highlighted the important role of the United Nations Framework Convention on Climate Change Conference of the Parties (COP 28), which the UAE will host next November, in addressing climate, energy and other challenges.

She called on the world to accelerate action to address the climate challenge and ensure a prosperous future for future generations.