After Delaying, more than a decade , in completion of Article IV Consultations or Mandatory Financial Stability Assessments, due to the exceptional circumstances the country is going through , Prime Minister of the Internationally Recognized Government of Yemen Salem Saleh bin Braik opened Sunday the consultations between the government of Yemen and the International Monetary Fund.
The consultations which is taking place with wide participation from the Fund's team, economic experts, and the presence of ministers and officials of the relevant government agencies, started on Sunday in the Jordanian capital, Amman.
In his online speech, bin Braik reviewed the challenges and difficulties facing the Yemeni economy and the successive internal and external shocks due to the war, which resulted in the continued contraction of the gross domestic product and the worsening deficit in the internal and external balances as a result of the continued cessation of oil exports, the decline in foreign aid and grants, the cessation of loans and the small non-oil revenues.
The Prime Minister stressed that these consultations come at a very important time for Yemen, in light of the government's efforts aimed at enhancing economic and monetary stability and intensifying structural reforms.
He stressed that the government is continuing to implement a package of financial, administrative and structural reforms, in parallel with its plans to enhance the efficiency of public spending, expand local revenues, and improve the business environment, in a way that enhances the confidence of regional and international partners and creates conditions for a sustainable economic recovery led by the private sector.
The opening session was attended by the Executive Director of the International Monetary Fund, Mohammed Maait, the Head of the IMF Mission Esther Breeze and the Fund's Resident Representative, Mohammed Jaber.