IMF grants $121 million to Yemen
The International Monetary Fund (IMF) has authorized $121 million dollars in disbursements for Yemen, after examining the country's economic performance under a poverty reduction program.
Of that sum, $87 million was provided under the Poverty Reduction and Growth Facility (PRGF) and an additional $34 million was set aside under the Extended Fund Facility (EFF), the IMF said in a statement on Wednesday October 24. In all, the IMF has authorized some $303 million for Yemen under the PRGF and $59 million under the EFF.
"Yemen has successfully consolidated the gains achieved in macroeconomic stability in recent years. Macroeconomic policies remain on track and, despite setbacks in some areas, progress has been made in the structural reform agenda," IMF Deputy Managing Director Shigemitsu Sugisaki said in a statement.
"Accordingly, the IMF has decide to complete the reviews and grant the necessary waivers with respect to the structural performance criteria that were not observed," he added. — (AFP, Washington)
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