Yemen: Prime Minister Holds Talks with the International Monetary Fund

Arab Sea Newspaper - News Updates

Arab Sea - Yemen - Follow-ups: Prime Minister Salem Saleh bin Brik held talks on Tuesday with the head of the International Monetary Fund (IMF) mission to Yemen, Esther Perez Ruiz, during which they reviewed the existing areas of cooperation between the government and the Fund, and future plans to support the government's priorities and support its efforts in continuing comprehensive reforms. The discussions, via video conference, with the participation of the IMF Resident Representative to Yemen, Mohammed Jaber, addressed the achievements of the technical and specialized teams within the framework of Article IV consultations, to assess the Yemeni economy and identify priority implementable policies, in addition to exploring emergency financing options and concessional facilities - necessary to bridge financial gaps and stimulate donor support. The level of implementation of the agreed program within the framework of Article IV consultations, the proposed dates for holding joint meetings to review the reports and data submitted, as well as mechanisms to intensify effective cooperation to support the economic recovery plan and the Yemeni government's reform program, mobilize support from international partners, and facilitate access to development financing and loans were also assessed. The Prime Minister reviewed the latest economic and financial developments in Yemen, and the government reforms implemented at the level of monetary and fiscal policies, which contributed to improving the exchange rate of the national currency and reducing inflation. He affirmed that the government, under the directives of the Presidential Leadership Council and in coordination with the Central Bank, is continuing to implement the comprehensive reform program as an irreversible national option, despite the challenges imposed by the exceptional circumstances and the humanitarian catastrophe resulting from the war of the terrorist Houthi militia. The Prime Minister touched on the importance of continued technical and financial support from Yemen's international partners, foremost of which is the International Monetary Fund, to help the government enhance economic and financial stability, build the capacities of state institutions, and preserve the gains achieved, in a way that positively reflects on improving the living standards of citizens and alleviating their suffering. He noted the role of the brothers in the Kingdom of Saudi Arabia and the United Arab Emirates, whose economic, development and humanitarian interventions represented a major factor in the state's continued fulfillment of its inevitable obligations during the past years. For their part, IMF officials praised the government's efforts in implementing reforms, and affirmed their readiness to continue the partnership and provide the necessary technical advice, in a way that contributes to supporting the Yemeni economy and developing fiscal and monetary policies, and to expedite the completion of Article IV consultations with the Yemeni government. The talks were attended by the Prime Minister's Advisor, Ambassador Mujeeb Othman, and the Assistant Undersecretary of the Ministry of Finance for the Foreign Relations Sector, Abdul Qader Amin.