The official Yemeni News Agency stated today, Sunday, that the internationally recognized government signed an agreement with the Arab Monetary Fund to restructure Yemen's debts to the fund, including the payment of some loans and installments, in a move aimed at improving the financial situation of the government and supporting development projects and economic reforms. >

The agreement was signed by Yemeni Minister of Finance Salem bin Brik with the Director General, Chairman of the Fund’s Board of Directors, Fahd Al -Turki in the presence of Saudi Finance Minister Muhammad Al -Jadaan on the sidelines of the Al -Ula conference for emerging market economies that started his business today in the Saudi city of Al -Ula and will continue for two days.

The agency stated that Minister Ben Brik discussed with the Turkish the economic and financial conditions in Yemen and the implementation of the comprehensive reforms program, stressing the need for the fund's continued support to enhance economic stability and combat corruption.

The agency quoted Ben Brik as saying that the agreement that allows Yemen to benefit from the resources of the Arab Monetary Fund, aims to "improve the financial situation of the government and support economic reforms and development projects."

Al -Turki confirmed the commitment of the Arab Monetary Fund to continue supporting Yemen to implement its economic reforms.

The Yemeni government signed a billion dollars agreement with the Fund in late 2022 to support efforts to achieve economic stability until 2025.

Recent official estimates indicate that the Yemeni debt bill amounts to about 10 billion dollars, with no delay and installments for these debts over the past years in the wake of the war that erupted in 2015.

Yemen's external debt reached $ 7.191 billion at the end of January 2015, that is, before the outbreak of the war.

An official at the Ministry of Finance in Aden told Reuters today that Yemen is striving with the International Monetary Fund and other funds to reschedule the debts owed by the government and the possibility of exemption from the benefits of late debts and obtain additional funds in observance of the circumstances and challenges resulting from the cessation of oil export. p>

The Yemeni government says that, within two and a half years, it lost more than 6 billion dollars from its own resources as a result of the failure of oil and gas exports due to the repeated Houthi attacks on oil ports and tankers, as well as targeting international navigation lines in the Red Sea.