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Economy
Almotamar Net - The International Monetary Fund (IMF) said Yemen has achieved important progress this year for strengthening the public finance and the base of revenues which will help reduce inflation and bigger stability in the exchange market and more investment and spending suitable for the poor in the medium-term.

Tuesday, 09-November-2010
Almotamar.net - The International Monetary Fund (IMF) said Yemen has achieved important progress this year for strengthening the public finance and the base of revenues which will help reduce inflation and bigger stability in the exchange market and more investment and spending suitable for the poor in the medium-term.

In a statement on Monday on the visit of the Director of the Administration of the Middle East and Central Asia to Yemen and his meeting with Yemeni officials and donors, the IMF added that Yemen embarked on implementing an economic programme for three years aims to achieve rising and sustainable growth and reduction of poverty rates under a world difficult environment and receding oil production.

The IMF indicated that Yemen is still facing great challenges due to retreat in quantities of oil production, increase in unemployment proportion, expansion of poverty and the people’s developmental needs.

IMF said the community of donors is important for changing Yemen into a non-oil economy and keeping the general support for the ambitious governmental reform programme.

While the IMF has pointed out in its statement that it looks forward to Riyadh’s ministerial meeting on Yemen, it called on the donors to the speedy launch of the required support for the budget.

On the other hand the final meeting was held in Sana’a Tuesday between the Yemeni government and the IMF, chaired by Yemen’s Deputy Premier for Economic Affairs, the Minister of Planning and International Cooperation Abdul Karim al-Arhabi and the official of Yemen programme at the IMF Hassan al-Atrash.

The meeting was devoted to discussing a group of issues related to the agenda of the IMF team in Yemen at the top of which the arrangements of appointing a resident representative and opening representative bureau for the IMF in Sana’a next September.

The official of the IMF programme in Yemen affirmed keenness of the Fund on continuing the offer of technical and financial support to Yemen to Help the Yemeni government in developing and raising the efficiency performance of the public financial administration, praising what has been achieved of accomplishments during the past period at the level of the public finance.
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