Republic of Yemen: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Yemen

International Monetary Fund

No 2026/080, IMF Staff Country Reports from International Monetary Fund

Abstract: After years of civil war, Yemen remains one of the world’s most fragile states. Since 2014, the internal conflict has resulted in significant macroeconomic vulnerabilities and a marked decrease in income per capita, leaving over half of the population in need of humanitarian support. The economy entered a deep recession after oil exports halted in 2022, making Yemen an oil importer. The fiscal and external deficits deteriorated sharply at the onset but have since narrowed, driven by compression of government spending and private demand amid high inflation, currency depreciation, and lower real incomes.

Keywords: exchange restriction; article IV; SDR million; currency practice; exchange rate arrangement; fund holding; Exchange rates; Middle East; Global; Central Asia (search for similar items in EconPapers)
Pages: 92
Date: 2026-04-03
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