Yemeni Finance Minister Salem bin Brik said that his country is in the process of signing an agreement with the Arab Monetary Fund for debt schedule, including paying some debts and installments, which will contribute to improving the financial situation of the government and supporting development projects and economic reforms.

Ibn Brik explained in statements to the Emirates News Agency during his participation in the Finance Forum within the World Government Summit today, that the Yemeni economy faces dual challenges, including the internal shocks resulting from the conflict that has continued for more than ten years, in addition to external challenges such as the Korona and tensions. In the Red Sea.

He pointed out that the suspension of oil export, which constitutes about 65% of the state’s revenues, led to severe financial pressure on the public budget, and that security turmoil negatively affected the performance of the various economic sectors, and increased the complexity of the business environment in the country.

With regard to future plans, Ibn Brik explained that Yemen has started since August 2023 to implement a package of financial and monetary reforms, including improving tax efficiency, strengthening non -oil revenues, and restructuring government spending.

He emphasized that the Yemeni government is working closely with the Arab Monetary Fund to implement these reforms, and progress is evaluated in a quarterly way to ensure the achievement of the desired goals, indicating that the recent events in the Red Sea had a direct impact on the Yemeni economy, especially with regard to shipment and chains Supply, which increased economic pressure.

Ibn Brik said that Yemen's strategic location makes it more affected by regional developments, which requires new strategies to ensure the stability of the economy despite the challenges.