Yemen participates in a meeting with the Director General of the International Monetary Fund.

Yemen Participates in IMF Meeting in Bangkok

The Republic of Yemen participated in a meeting convened by Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), with central bank governors and finance ministers from the Middle East and North Africa. This meeting took place during the annual meetings of the IMF and the World Bank in Bangkok, Thailand.

Economic Challenges Discussed

During the meeting, Ahmed Ghaleb, the Governor of the Central Bank of Yemen, presented key economic and monetary developments in Yemen. He highlighted the exceptional challenges resulting from the ongoing war, the recent escalation by the Houthi terrorist militia, and the repercussions of regional conflicts. These factors significantly impact the national economy and the humanitarian situation.

Commitment to Economic Reforms

Ghaleb emphasized that Yemeni authorities continue to implement economic, financial, and monetary reforms despite difficult conditions and limited resources. He noted the progress made in cooperation with the IMF, including the completion of procedures for the Staff-Monitored Program (SMP) and the signing of a letter of intent by the Yemeni government. This commitment underscores Yemen’s dedication to ongoing reforms and maintaining economic and monetary stability.

Gratitude for Saudi Support

The governor expressed profound gratitude to the Kingdom of Saudi Arabia, its leadership, government, and people, for their generous and continuous support to Yemen across various sectors. This support has played a crucial role in preserving state institutions and enabling them to meet their basic obligations to citizens.

Call for International Support

Ghaleb pointed out that Yemen is making significant sacrifices in terms of lives and limited resources in the fight against terrorist groups, particularly the Houthi militia backed by the Iranian regime. He noted that the threats posed by these groups extend beyond Yemen, affecting international navigation, global trade routes, and regional and international peace and security.

He urged Yemen’s international partners, especially regional and international financial institutions, to enhance their support for Yemen in line with the scale of challenges and sacrifices the country faces. This support is essential for strengthening state institutions, establishing economic and monetary stability, and enabling Yemen to fulfill its commitments during these exceptional circumstances. Ghaleb asserted that supporting Yemen represents an investment in regional security, global economic stability, and the safety of international trade.

Meeting Attendance

The meeting included the participation of representatives from the Ministry of Finance and the Central Bank of Yemen.

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