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Tuesday, 11 October 2011

gulfnews : UAE has limited exposure to crises

The sovereign debt crisis in Europe and issues currently confronting the US economy are challenges for all nations of the world, though the UAE is relatively better equipped through its prudent policies to handle any difficulties arising from the situation, said a top official.

Speaking at a press conference yesterday at the World Economic Forum Summit on the global agenda in the UAE capital, Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, said: "Our exposure there [in the US and Europe] is very limited. [However] we are ready to face any difficulties that might arise for the UAE's financial institutions and banks."

Al Mansouri said living in an "interconnected world means events in one country can significantly impact others"