Republic of Yemen: Request for a Three-Year Arrangement Under the Extended Credit Facility-Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Yemen.

September 29, 2010

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Republic of Yemen: Request for a Three-Year Arrangement Under the Extended Credit Facility-Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Yemen., (USA: International Monetary Fund, 2010) accessed November 23, 2024

Summary

Yemen is confronted with a range of difficult economic challenges. The reduction in oil revenues in the past year has affected the Yemeni economy through a set of direct and indirect channels. The loss of oil revenue contributed to a record fiscal deficit of about 10 percent of GDP in 2009, financed in large part by the central bank. The balance of payments was also put under considerable strain. The identified measures are home-grown and designed to have a long-lasting impact on the structure of the budget.

Subject: Banking, Currencies, Expenditure, Foreign exchange, Fuel prices, International reserves, Money, Prices, Public debt

Keywords: Balance of payments, Broad money, CR, Currencies, Current account, Disbursement equivalent, Equivalent to SDR, Exchange rate pressure, Fuel prices, Global, ISCR, Middle East, Priority reform, Public finance, Tax policy reform, U.S. dollar

Publication Details

Pages:

61
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/300
Stock No:

1YEMEA2010001
ISBN:

9781455208784
ISSN:

1934-7685

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