IMF chief praises UAE's financial system

The Head of the International Monetary Fund (IMF) Christine Lagarde has praised the UAE's fiscal framework.

Arab countries like Saudi Arabia and Kuwait are also on the right track, she added.

Legarde was speaking at the main session of the Fourth Annual Arab Fiscal Forum.

She also called Dubai a "city of tomorrow" where "it's economic leaders-are dedicated to realising the vision of a better tomorrow."

With the IMF’s help, the UAE is launching a fiscal risk management project.

It will produce its first fiscal stress test later this year.