Yemen concludes deliberations with IMF team: Agreement on economic and structural reforms [Archives:2004/801/Local News]

December 23 2004

Mahyoub Al-Kamaly
Yemen and the International Monitory Fund (IMF) have concluded discussions and have reviewed economic developments in Yemen during the current year, and the prospects for 2005 and beyond. Particular attention was given to the state budget, the balance of payments, growth rates, and the need for deep structural reforms.
Discussions were co-shared by Finance Minister and Deputy Prime Minister Alawi Saleh Al-Salami, and Mr. Saada Al-Shami, Senior Economist at the Fund's Middle East Office.
Mr. Al-Salami articulated interest his in the IMF proposal, while pointing out the country's endeavours to comprehensively reform the fisheries, tourism and sea transportation sectors, in the face of limited resources and tremendous population growth.
Mr. Al-Salami expressed his hope that the IMF would continue to support development in Yemen. He said that priorities were the preparation of environment suitable for local and external investments, and achieving sustainable growth.
The government has set aside YR 196.046 billion for implement projects and to provide job opportunities, and another YR 37.9 billion for investment programs a social safety net that depends on local labour.