President, VP attend session addressed by IMF Managing Director

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

Georgieva said the UAE economy is one of the most efficient in the world in terms of its leading performance amid the current challenges. She attributed its success to the UAE’s open approach and effective government policies. Speaking at the session moderated by Richard Quest of CNN, Georgieva ruled out the exposure of the US economy to recession this year.

“The return of the Chinese economy to growth is critical to the global economy, as the Chinese market showed some growth in terms of demand and spending," she said.

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

The IMF Managing Director also noted the success of the UAE in attracting foreign investments and creating more jobs.

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

She called on the world to expedite action to address climate challenges to ensure a prosperous future for upcoming generations.