Washington, United States – Web Desk: The United Arab Emirates has reaffirmed the strength of its economy, stating that it does not require any external financial assistance, according to its ambassador to the United States, Yousef Al Otaiba.
Speaking during high-level discussions in Washington, UAE and U.S. officials reviewed financial cooperation mechanisms, including a potential currency swap line and access to U.S. dollar liquidity. The talks come amid growing global economic uncertainty linked to ongoing geopolitical tensions in the Middle East.
Al Otaiba emphasized that the UAE faces no immediate risk of a financial crisis, citing the country’s robust economic fundamentals. He noted that the UAE holds approximately $2 trillion in sovereign investment funds and around $300 billion in foreign exchange reserves, providing a strong buffer against external shocks.
He added that ongoing discussions with the U.S. Federal Reserve aim to further strengthen financial stability, rather than address any urgent liquidity concerns.
The remarks come as analysts warn that regional tensions, particularly involving Iran, could place pressure on Middle Eastern economies. However, UAE officials maintain that the country’s economic position remains secure and resilient, with no need for emergency financial support.
