UAE Does Not Need External Financial Support, Says Ambassador Al Otaiba

The United Arab Emirates has no need for external financial assistance, its ambassador to the United States, Yousef Al Otaiba, said during high-level discussions in Washington.

The remarks came as U.S. and Emirati officials held talks on a potential currency swap line. Al Otaiba emphasized that the UAE’s economy remains strong, with no shortage of U.S. dollars, and dismissed any notion that the country requires outside financial support.

He further noted that the UAE holds approximately $2 trillion in investment funds along with around $300 billion in foreign exchange reserves, underscoring the country’s financial stability.

According to the ambassador, discussions between Emirati authorities and the Federal Reserve are ongoing regarding currency swap arrangements, reflecting continued financial cooperation between the two countries.