Salem bin Breik, the Minister of Finance of the Internationally Recognized Government of Yemen, Salem bin Breik, announced that the IRG is set to sign an agreement with the Arab Monetary Fund to reschedule Yemen’s debt, including the repayment of certain loans and installments.
This move is aimed at improving the government's financial position and supporting economic reforms and development projects, he added.
Speaking to the Emirates News Agency (WAM) during the Arab Fiscal Forum at the World Governments Summit, held in Dubai, UAE, bin Breik highlighted the dual challenges facing Yemen’s economy.
He noted that security instability has negatively impacted various economic sectors, further complicating the business environment in the country.
Regarding future plans, bin Breik stated that since August 2023, the IRG has been implementing a series of financial and monetary reforms, focusing on improving tax efficiency, boosting non-oil revenues, and restructuring government spending.
He affirmed that the the IRG is working closely with the Arab Monetary Fund to implement these reforms, with progress being assessed on a quarterly basis to ensure the achievement of key economic objectives.