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International Monetary Fund hails UAE's swiftness in containing coronavirus

Waheed Abbas/Dubai
Filed on July 14, 2020 | Last updated on July 14, 2020 at 06.58 am
International Monetary Fund, IMF, hails, UAE, coronavirus

(AFP)

The positive element comes from the fact that the authorities reacted very quickly and swiftly in addressing coronavirus.

The International Monetary Fund (IMF) on Monday hailed the UAE's swift response to contain the spread of coronavirus, as well as its efforts to deploy new-age technologies such as virtual doctors and sanitising robots to contain the pandemic.

Addressing a virtual Press conference, Jihad Azour, IMF director of its Middle East and Central Asia Department, said: "The UAE economy was affected by double-whammy of the coronavirus shock and oil price drop. The positive element comes from the fact that the authorities reacted very quickly and swiftly in addressing coronavirus and introduced pioneer measures by increasing the number of testing and introducing new technology as ways and means to contain spread of the virus."

The IMF projected that the region's oil-exporting countries will lose $270 billion (Dh991 billion) in oil-export receipts in 2020 compared to last year due to the drop in oil prices and production cuts under the Opec+ agreement.

waheedabbas@khaleejtimes.com 


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