By: Ramy Sameeh
Abu Dhabi-Mubasher: The debt-to-GDP ratio in the UAE is low as compared to the overall debts across the globe, said chairman of the UAE’s central bank Khalifa Mohammed Al Kindi.
Time is still early for the UAE to enter global debt markets and secure loans from abroad, Al Kindi noted on the sidelines of the Global Financial Markets Forum which is being held in Abu Dhabi.
“The United Arab Emirates recorded a Government Debt to GDP of 15.68% of the country's Gross Domestic Product in 2014,” said Trading Economics.
“There is an exaggeration in global reports on withdrawing money from sovereign funds,” said Al Kindi.
The UAE owns one of the largest sovereign funds around the world, namely Abu Dhabi Investment Authority which has assets standing at $773 billion, according to issued data.
According to a recent report by Fitch, assets of the Abu Dhabi-owned sovereign fund may decrease by 5% by the end of 2016 due to liquidation of owned assets.
