SABA - Yemen news agency

Print date: 16-12-2018
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Yemen gets $ 74 mln from IMF

SANA'A, Oct.01(Saba)- Yemen received $ 73.8 million immediate disbursement of a three-year extended credit facility worth $ 552.9 million total the International Monetary Fund (IMF) agreed, Finance Minister Dr. Mohamed Zemam said.

In a statement to Saba, Zemam pointed out that Yemen received this support under the agreement signed with the IFM to support a three-year program devoted to face the rapidly deteriorating economic situation in the country during the first half of 2014 and support the economic reforms with a view to maintain macroeconomic stability and promote inclusive growth.

The minister confirmed that those amounts have been credited to the government accounts in the Central Bank of Yemen (CBY).

"The reforms program is continuing in various economic, financial and administrative fields" Zemam said, adding that despite the cuts that occurred in the prices of oil derivatives, but the donors positively understood the peace and national partnership agreement signed recently by all the political components in Yemen, as being a political agreement contains the largest economic reform program jointly adopted by all political parties and components in the country.

" The procedures to withdraw the amount of the credit facility, which exceeds half a billion dollars, were completed between Yemen and the IMF and going on as required", Zemam confirmed, noting that a new round of talks would be held between the two sides during the first week of October 2014 in Washington.