UAE second-strongest financially in Arab world’s emerging economies – ZAWYA

UAE second-strongest financially in Arab world’s emerging economies – ZAWYA

The report measures financial strength of countries based on their public and foreign debts, cost of borrowing and reserve cover.. The UAE is rated high on low cost of borrowing, followed by low public debt and reserve cover and foreign debt.. The UAE's strong $1.16 trillion sovereign wealth reserves - the highest in the region - also provide a key role in its financial stability and cushion to its economy from any external shocks.. Moody's Investors Service has said that the UAE and other Gulf countries holding strong sovereign wealth funds are better positioned to absorb the external shocks.. Anurag Chaturvedi, managing partner at Chartered House Tax Consultancy, said the UAE improved its ranking globally because of its strong drive towards reforms have anchored many initiatives to enhance competitiveness including the institutional framework, infrastructure, macroeconomic stability and ICT use..