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  Local
Al-Mashat congratulates Indonesia’s President on Independence Day
[17 August 2018]
FM congratulates Afghan counterpart on National Day
[17 August 2018]
Competition for provincial teams of kickboxing kicks off in capital
[17 August 2018]
SPC approve to extend term of President al-Mashat
[16 August 2018]
FM sends 2 messages to UN general-secretary and to head, members of SC on coalition' crimes
[16 August 2018]
 
  Saudi Aggression War against Yemen
10 Saudi-led air strikes hit Sanaa
[18 August 2018]
Protest rally in Taiz holds against Saudi aggression crimes
[18 August 2018]
Army escalates offensives against Saudi-paid mercenaries over 24 hours
[18 August 2018]
Ballistic missile , Badr 1, targets new Saudi forces camp in Najran
[18 August 2018]
2 civilians killed, 2 injured by Saudi' airstrikes on Hodeidah
[18 August 2018]
 
  Reports
Yemeni Socotra beauty code: Report
[18 August 2018]
Report: Army inflicts Saudi-led mercenaries losses in lives, equipments over past 24 hours
[14 August 2018]
11 Civilians killed, 18 others injured in Saudi-led airstrikes over past 24 hours : Report
[14 August 2018]
Dozens of Saudi-backed militiamen killed, injured in Najran, Asir, Jizan: Report
[13 August 2018]
Report: Army launches missile attacks on Saudi-led mercenaries over past 24 hours
[13 August 2018]
 
  International
Saudi extremist regime commits genocide in Yemen : Slovakian Parliament
[15 August 2018]
Deputy PM, UN official stress doubling efforts to combat cholera
[06 August 2018]
ICRC condemns Saudi airstrikes on Hodeidah hospital
[04 August 2018]
Health minister stresses enhancing cooperation with WHO
[01 August 2018]
Al-Masirah TV reporter injured in Saudi border shelling
[01 August 2018]
  Economy
Yemen external debt rises to $ 6.29 bln at end of 2009
[20/February/2010]  

SANA’A, Feb. 20 (Saba)- The Central Bank of Yemen has said that the country's total external obligations increased 2.3 per cent to just over $ 6.29 billion at the end of 2009, compared with $ 5.89 billion at the end of 2008.

Yemen's external debt, and increasingly its domestic debt, has been rising steadily over the last several years. This trend will likely continue into the foreseeable future as the government looks to the international community to help fund its shift away from declining oil resources to non-hydrocarbon economic endeavors.

In its annual report, the CBY said that these debts were owned by international financial funds, including the Arab Development Fund, International Fund for Agricultural Development (IFAD), the International Monetary Fund (IMF), OPCE’s Development Fund, the Islamic Development Bank (IDB) and the European Union.

‘’Yemen’s debts for members of the Paris Club amounted to $ 1.7 billion, of $ 1.2 billion for Russia, $ 270 million for Japan and the rest for The United States, France, Italy, Spain, Denmark, the Netherlands and Germany’’, said the CBY.

In contrast, debt owed to non-Paris Club countries rose 8.3 per cent y/y to $ 933.5 million on the back of a 51.1 per cent y/y surge in debt owed to China. At the end of 2009, Yemen owed China $ 272.6 million, which reflects in part a September 2009 announcement that China will provide Yemen with $ 70 million in soft loans to jumpstart its domestic textile industry. Debt owed to Saudi Arabia was also up 1.2 per cent y/y to $ 372.4 million.

At the end of 2009, over half 52 per cent of Yemen's official external debt was owed to multilateral institutions like the World Bank and IMF. Money owed to these institutions grew 2.3 per cent year-on-year in December to US$3.2 billion.

Just under $ 2.2 billion of this amount was owed to the World Bank's International Development Association, loans which are almost entirely interest free. While debt owed to the IMF declined 45.4 per cent y/y to $ 52.3 million, external obligations owed to the Arab Fund for Social and Economic Development increased 3.6 per cent y/y to $ 669 million as did outstanding loans from the Islamic Development Bank up 15.5 per cent y/y to $ 93.2 million.

The United States and other developed nations have already pledged an increase in development assistance to Yemen via a combination of loans and aid, which will be crucial for the country to develop its inadequate infrastructure and increase non-hydrocarbon economic activity. 

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UPDATED ON : Sat, 18 Aug 2018 12:24:57 +0300