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

International Monetary Fund

No 2010/300, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; equivalent to SDR; disbursement equivalent; public finance; priority reform; tax policy reform; exchange rate pressure; U.S. dollar; balance of payments; current account; broad money; Currencies; Fuel prices; Middle East; Global (search for similar items in EconPapers)
Pages: 61
Date: 2010-09-29
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