US $ 220,000,000 in Assistance to Yemen [Archives:2000/52/Local News]

December 27 2000

Reliable resources indicated that the Manager of Middle East Department of the International Monetary Fund, Mr. Paul Chabrier, who ended his visit to Yemen last Monday, stressed that the amounts which will be appropriated to help Yemen amounted to US $ 220,000,000. But he said that the Fund will not give any money unless he gets reports about the achievements in the field of financial and administrative reforms.
He discussed with some officials in the Cabinet and the Ministry of Civil Service the retiring of about 30,000 employees on pension. He indicated that there must be a solution to the problem of employees who have more than one occupation.

The resources illustrated that the representative of the World Bank was not pleasant on the way that the government is following on privatizing a number of public corporations. Due to the agreement of partnership between the government and the International Monetary Fund, 10% of government’s shares in the Yemeni Bank for Establishment and Reconstruction will be devoted to economic and administrative reforms in the next year. Political analysts indicated that privatizing companies according to the instructions of the World Bank represents the critical challenge that the government faces. They doubt that the government will take useful measures inside the public institutions.
The Prime Minister met Mr. Chabrier and Mr. Klaus Enders, and they discussed the relationship between Yemen and the International Monetary Fund. The manager of the Middle East Department of the Fund indicated that inflation had decreased up to 4-5%, and the economy had witnessed better development.