YEMEN Press Agency

Meetings of Central Bank of Yemen with IMF concluded in Sanaa

SANAA, March 31 (YPA) – The Central Bank of Yemen in Sanaa and the International Monetary Fund (IMF) on Tuesday concluded their meetings, which were held via a closed-circuit television at the bank’s headquarters in the capital Sanaa.

During the period from March 5 to 30, three meeting were held with the participation of the Central Bank of Yemen, representatives of the Ministries of Finance and Planning, the Central Statistical Organization, and a representative of the World Bank, the European Union, and the United Nations.

The last meeting, chaired by Deputy Director of the Middle East Department at the IMF and attended by a number of experts in the economic aspect, discussed a study and diagnosis of the overall economy of the Republic of Yemen with a view to assessing the economic and social situation in general in order to know the problems and proposed solutions to them.

The discussion focused on four main topics related to monetary policy, general economic indicators, salaries of civil servants, and areas of joint cooperation during the next stage.

In this regard, the Central Bank stressed the importance of the international financial institutions’ role in supporting the process of paying the state employees’ salaries, especially in light of the risks and threats related to the Corona virus.

The Central Bank indicated to the catastrophic repercussions of the aggression and the blockade on the health sector in Yemen, which requires providing the necessary support to overcome the current challenges, especially with regard to strengthening efforts to confront Corona.

In the meeting, the Central Bank of Yemen in Sanaa reviewed the banking sector plan to continue working in confronting Corona.

IMF affirmed its desire that these meetings be held periodically to promote and support monetary and financial policies, so as to achieve stability in the exchange rates of the local currency, whether by providing technical advice or supporting capacity building.

The fund noted to the desire to provide solutions and remedies to bridge the deficit in the balance of payments, praising the high professionalism, the distinct efficiency, and the capabilities of the staff of the Central Bank of Yemen in Sanaa and the government agencies that participated in the meeting.