Economic recovery in oil-rich United Arab Emirates is gaining strength but still faces risks from political uncertainty in the region, the International Monetary Fund said on Monday.
"Risks to the recovery remain, including from possible economic spillovers of regional events," the IMF said. "In particular, the current re-pricing of geopolitical risk in the region could lead to more challenging market conditions."
Government-related entities, or GREs, are carrying a debt load of more than 100 percent of gross domestic product in Dubai and will have hefty rollover needs for some time, posing fiscal and financial risks for the UAE overall the IMF said.
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