UAE exempts Yemen from US $110 million

An official at the Yemeni Ministry of Finance said that Yemen had urged the full exempting of its debts owed to the United Arab Emirates, estimated at US $110 million.

The secretary for the Ministry of Finance for the foreign relations sector, Ahmad Ghaleb, said in press statements that the exemption was agreed upon between Yemeni President Ali Abdullah Saleh and UAE President Sheikh Zayed Bin Sultan al-Nahyan and was implemented by specialized sides.

He added that part of this sum is a sort of deposit and the other part is development debts to the Abdul Dhabi Fund for Development contracted upon earlier.