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Central Bank of the UAE Governor Khaled Mohamed Balama delivered the country’s keynote address at the MENAP Central Bank Governors and Finance Ministers meeting with the IMF on October 14, according to the Emirates News Agency. Balama described the global economy as facing multiple interconnected shocks that test resilience and financial systems while highlighting the UAE’s structural strengths. The address took place during the annual meetings running from October 12 to 18 in Bangkok and included IMF Managing Director Kristalina Georgieva among the participants.
The Ministry of Finance delegation is headed by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, while the Central Bank of the UAE leads its own group at the gatherings that also feature G20 sessions and meetings with World Bank Group President Ajay Banga. Al Hussaini stated that the UAE seeks to strengthen financial and economic cooperation through active contributions on global stability and development financing. The Emirates News Agency noted that these engagements precede the UAE’s scheduled hosting of the same annual meetings in Abu Dhabi in 2029.
Central Bank of the UAE data projects GDP growth at 1.6 percent for 2026 before accelerating to around 10 percent in 2027 driven by non-oil expansion and higher oil production capacity. The Federal Competitiveness and Statistics Centre reported that the UAE economy reached Dh961.9 billion in the first half of 2026 with non-oil activities expanding 1.8 percent and comprising 79.2 percent of total output. An IMF assessment incorporated in the presentations pointed to the UAE’s robust fiscal buffers and low public debt as factors reinforcing market confidence.
Balama emphasized in his remarks carried by the Emirates News Agency that the UAE economy has shown exceptional resilience supported by investment in human capital, technology and infrastructure projects. The Central Bank of the UAE outlined priorities including digital transformation through artificial intelligence, adaptation to climate challenges and promotion of financial inclusion during various sessions. These themes align with broader discussions at the meetings on reinforcing global financial stability amid ongoing regional uncertainties.
The programme includes a UAE Banks Reception hosted on October 15 by the Central Bank of the UAE in coordination with the Ministry of Finance and the UAE Banks Federation, according to the Emirates News Agency. This event brings together central bank governors, bank executives and international financial representatives to exchange expertise and build partnerships. Bilateral meetings on the sidelines further allow exploration of investment opportunities and policy coordination with other participating nations.
Ministry of Finance statements indicate that the UAE’s participation reaffirms its role in shaping international economic agendas while drawing on its experience in sustainable financing and inclusive development. The Federal Competitiveness and Statistics Centre data also showed financial and insurance activities posting the strongest sectoral growth at 14.8 percent in the first half of 2026. Such performance metrics formed part of the UAE’s contributions to panels addressing post-shock economic recovery and long-term resilience building.
