Yemeni Central Bank Reserves Exceed $2 Billion for First Time

Published June 5th, 2000 - 02:00 GMT

The foreign reserves at the Yemeni central bank increased by $2 billion for the first time in the history of the country's economy, reported the English newspaper Yemen Times, quoting a central bank official.  

He told the bi-monthly that the increase was attributed to successes made by the economic reform program started since 1995.  

"These reserves will be enough to cover imports expenses for more than six months, a high percentage providing safe conditions for the national economy," he said. 

Foreign reserves increased by 33% during this year following improvement in oil prices, Yemen Times said - Albawaba.com 

 

© 2000 Al Bawaba (www.albawaba.com)

You may also like