Business

Arab Monetary Fund to loan Yemen $205 Million

National Yemen

Arab-Monetary-Fund

The offices of the Arab Monetary Fund’s two executive managers have agreed to provide Yemen with one ordinary loan and another compensatory loan, together totaling $205 million to support Yemen’s financial and economic reform program.

In meetings held with General Manager Jasem Al-Mana’ay, the council reviewed the fund’s most prominent activities since last March and noted that an agreement had been signed in April to provide payments to Yemen worth $34 million .

The Arab Monetary Fund has continued to provide technical consultancy services to local developing bond markets under the initiative entitled “Developing the Debt Instrument Markets in Arab Countries.”

The initiative was held in cooperation with the International Monetary Bank. Beneficiary countries have included Morocco and the United Arab Emirates.

2 Comments

  • But unless the government does its part by adopting more radical reforms, the 9% annual growth that India briefly enjoyed before the financial crisis is hard to imagine. The world economy, after all, is much more sluggish now.