Dubai/Washington (HRNW)- UAE Ambassador to the US Yousef Al Otaiba has clarified that the UAE does not need any external financial assistance and the country is not facing any shortage of dollars. A high-level meeting was held between US and UAE officials in Washington regarding the currency swap line, after which the Emirati ambassador told the media that the Emirati economy is on a very stable footing.
According to Yousef Al Otaiba, the UAE has investment funds worth about $2 trillion, while the country’s foreign exchange reserves are up to $300 billion, which is clear evidence of economic strength. He added that discussions are ongoing between Emirati officials and the US Federal Reserve regarding the currency swap line, however, these discussions are not due to any financial crisis, but are taking place in the context of financial cooperation and future planning.
The Emirati ambassador emphasized that the UAE is a country with a self-sufficient economy and is playing its role as a strong partner in the global financial system.
Readers are encouraged to support independent journalism and humanitarian efforts by making a donation at
www.hrnww.com/?page_id=1083
