|
A billion dollar is Yemen's reservoir of foreign currencies
Yemen, Economics, 1/30/1999
The Central Bank of Yemen said that its foreign currencies reserves increased again after months of decrease due to the reduction in the country's petroleum income.
Governor of the central bank, Ahmed Abd El-Rahman El-Samawi, said the foreign reserves exceeded $1 billion -- enough for more than five months of imports.
The foreign reserves retreated much in the middle of last year and dropped to nearly $750 million from $1.2 billion at the end of 1997.
El-Samawi said the Yemeni central bank fulfilled all its international commitments whether in installments or interest payments on debts due to countries belonging to the Paris Club or regional and international organizations.
Yemen was classified as being among the best countries for fulfilling its debts' commitments in spite of prevailing non-favorable economic conditions, as Yemen paid 1$60 million in loans and interest last year.
Previous Stories:
An $83 million grant to Yemen form the USA
(1/28/1999)
Yemen: $60 million for public works project
(1/21/1999)
Yemen plans new strategy for using fish resources
(1/19/1999)
Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.
|
Advertise on ArabicNews.com. MyFlowers.com sold more than $2700 of flowers in one month advertising on ArabicNews.com! Make your company, and products a success. Special rate for new and small business. Inquire!Advertising Info
|
