The Planning Minister discusses the resumption of Article IV consultations with the International Monetary Fund.

Minister of Planning Discusses Economic Developments with IMF

Virtual Meeting with IMF Mission Chief

Today, Dr. Afrah Al-Zuba, Yemen’s Minister of Planning and International Cooperation, held a virtual meeting with Esther Pérez Ruiz, the head of the International Monetary Fund (IMF) mission to Yemen. The discussion focused on the latest economic developments in Yemen and the arrangements for resuming Article IV consultations with the Ministry of Finance and the Central Bank of Yemen.

Economic Resilience Amid Challenges

The meeting included key figures such as Mohamed Jaber, the IMF Resident Representative in Yemen, and Dr. Mohamed Ma’ati, an executive director at the IMF, along with several economic experts from both sides. They noted that the Yemeni economy has demonstrated resilience and strength in the face of recent challenges.

Central Bank’s Effective Crisis Management

Dr. Al-Zuba highlighted the Central Bank’s effective and professional management of the crisis, noting that there has been no significant decline in the exchange rate. She emphasized that the payment of civil service salaries has helped restore purchasing power and stimulate economic activity. Furthermore, she expressed appreciation for the IMF’s pivotal role in supporting Yemeni institutions. The Fund’s contributions in capacity building and technical support have significantly improved the performance of key government institutions, including the Central Bank and the Ministry of Finance.

Political and Security Improvements

The Minister also reviewed the political and security situation, confirming noticeable improvements in essential services in liberated cities. She reiterated the government’s commitment to building on previous plans and reforms, focusing on economic recovery, stability, enhancing basic services, achieving social cohesion, and promoting governance, transparency, and accountability.

IMF’s Commitment to Continued Support

Esther Pérez Ruiz expressed satisfaction with the growing political and security stability and the strategic continuity of government policies. She reaffirmed the IMF’s commitment to advancing Article IV consultations, which represent a crucial step in enhancing international confidence in the Yemeni economy. Ruiz announced plans to hold a series of technical meetings in the coming days with the Ministry of Finance and the Central Bank to expedite the consultations.

Support for Yemen’s Future

Dr. Ma’ati congratulated Dr. Al-Zuba on her new role as Minister of Planning and International Cooperation. He assured her of the IMF’s full readiness to support Yemen in addressing current challenges, expressing confidence in the team handling the Yemeni file and the success of the upcoming consultations.

For more details, visit Yemen TV and Yemen Satellite Channel.

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