Yemeni debts for Algeria rescheduled
Yemen-Algeria, Economics, 2/1/2002

Yemen and Algeria have signed an agreement in Sanaa provided for rescheduling due debts for the Algerian government to be paid by the Yemeni government estimated at USD 80 million.

An official source in Sanaa said that the agreement was signed by the Yemeni finance minister Alawi Saleh al-Salami and his Algerian counterpart Midras Madlasi who presided over the Algerian side to the annual meetings of the joint Algerian- Yemeni ministerial committee.

The talks which lasted for two days were crowned by signing the agreement which stated to reschedule debts due to be paid by the Yemeni government to the government of Algeria along 23 years, including a grace period of 6 years and smooth interests.

The two sides also signed an agreement on avoiding double taxation.

In March, 2001, Yemen's foreign debts were estimated at USD 4.8 billion with a decrease of 2% of the debts in December, 2000.

On the other hand, the Yemeni Central Bank has proposed to the Cabinet means of limiting the effects of the attacks targeted the US in September, 2001 on the Yemeni economy.

The Yemeni News agency said that the Cabinet listened in its session to a report by the bank prepared by a work team assigned to study the various aspects of the consequences of the September 11 attacks on the Yemeni economy.

The reports included an evaluation to the immediate possible consequences for the current year. The report also includes perspectives to avoid these consequences on various economic, financial and monetary sectors.

Previous Stories:
  Yemeni - Algerian committee to meet   (11/17/1999)
  Saleh, Bouteflika call for comprehensive Arab summit   (7/22/1999)
  Algerian, Yemeni presidents: Exclusion and marginalization will not serve the Arab states   (7/21/1999)

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