Prime Minister Holds Talks with IMF to Review Areas of Cooperation and Article IV Consultations

SMA NEWS – ADEN THE CAPITAL
Prime Minister Salem Saleh bin Braik held talks, on Tuesday, with the Head of the International Monetary Fund (IMF) Mission to Yemen, Esther Perez Ruiz. The talks reviewed existing areas of cooperation between the government and the IMF, as well as future plans to support the government’s priorities and its efforts to pursue comprehensive reforms.

The talks, held via videoconference 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. They also explored options for emergency financing and concessional facilities, essential to bridge the financial gaps and stimulate donor support.

The level of implementation of the program agreed upon in the framework of Article IV consultations was also assessed, as were the proposed dates for holding joint meetings to review submitted reports and data. Mechanisms for intensifying effective cooperation to support the economic recovery plan and the Yemeni government’s reform program were also discussed, as were mobilizing support from international partners and facilitating access to development financing and loans.

The Prime Minister reviewed developments in the economic and financial situation in Yemen, and the government’s monetary and financial policy reforms, which have contributed to improving the exchange rate of the national currency and reducing inflation. He emphasized that the government, under the guidance of the Presidential Leadership Council and in coordination with the Central Bank, is proceeding with the implementation of the comprehensive reform program as an irreversible national choice, despite the challenges posed by the exceptional circumstances and the humanitarian catastrophe resulting from the terrorist Houthi militia’s war.

The Prime Minister emphasized the importance of continued technical and financial support from Yemen’s international partners, primarily the International Monetary Fund (IMF), to help the government enhance economic and financial stability, build the capacity of state institutions, and preserve the gains achieved. This will positively impact citizens’ living standards and alleviate their suffering. He noted the role of our brothers in the Kingdom of Saudi Arabia and the United Arab Emirates, whose economic, development, and humanitarian interventions have been a key factor in ensuring the state’s continued fulfillment of its obligations over the past years.

For their part, IMF officials commended the government’s efforts in implementing reforms and affirmed their readiness to continue their partnership and provide the necessary technical advice to support the Yemeni economy and develop fiscal and monetary policies. They also expressed their commitment to expediting the completion of Article IV consultations with the Yemeni government.