Riyadh - Agencies:
Today, the Republic of Yemen signed an agreement with the Arab Monetary Fund to support the comprehensive economic, financial and monetary reform program for Yemen, worth one billion dollars.
The agreement was signed by Finance Minister Salem bin Brik, Governor of the Central Bank of Yemen Ahmed Ghaleb Al-Maabqi, and Director General and Chairman of the Board of Directors of the Arab Monetary Fund, Dr. Abdul Rahman Al-Hamidi, in the presence of Saudi Finance Minister Muhammad Al-Jadaan, and the Kingdom’s ambassador and general supervisor of the Saudi Program for the Development and Reconstruction of Yemen Muhammad Al Jaber.
The program, which covers the period (2022-2025), aims to establish the foundations of economic, financial and monetary stability in Yemen, strengthen the state’s public finances and external position, rebuild its institutions and enhance its governance and transparency, in order to create the macroeconomic environment to expand and diversify the productive base, and promote comprehensive economic growth. And sustainable, and job creation, leading to putting the Yemeni economy on a more sustainable path, advancing economic and social development, and reducing unemployment and poverty rates.
Finance Minister Salem bin Brik stressed, in a press conference after the signing, the importance of this program in implementing economic reforms in the matrix, raising and mobilizing resources and building capacities in finance or the central bank, and it also contributes to raising oil and non-oil revenues, which will be reflected in the Yemeni economy. Improving the lives of Yemeni citizens.
The minister drew attention to the terrorist attack on the oil export ports by the terrorist Houthi militia, which caused the loss of much revenue.
He pointed out that the difficult economic and financial conditions in Yemen negatively affected the citizen, explaining that this deposit and program came at the right time to address the economic, financial and revenue conditions in Yemen, appreciating the generous support provided by Saudi Arabia to Yemen in various aspects.
For his part, the Chairman of the Board of Directors of the Arab Monetary Fund explained the importance of the agreement in promoting economic reforms, rebuilding financial and monetary institutions in Yemen, strengthening and strengthening governance and transparency frameworks, and ensuring a diversified package in the areas of financial and economic reforms, most notably increasing revenues, reducing unemployment and poverty rates, and raising the standard of living. Yemeni citizen.
In addition, the Governor of the Central Bank of Yemen said that the program is supported by the Kingdom of Saudi Arabia and the United Arab Emirates, pointing out that the signing of the program and its mechanisms has been completed, and after that, a move will be made to discuss the legal aspects of the deposit agreement soon.
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