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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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
Pages:
61
Volume:
2010
DOI:
Issue:
300
Series:
Country Report No. 2010/300
Stock No:
1YEMEA2010001
ISBN:
9781455208784
ISSN:
1934-7685
