Japan reschedules Yemeni debts

Japan and Yemen signed an agreement for rescheduling Yemeni debts of 2.58 billion yen ($17.7 million).

Yemeni sources said that 96% of the Yemeni debts are payable to the foreign economic development fund, and that it will be paid back in 48 semi-annual installments starting from the beginning of November of 2015 at an interest of 1% annually.

The sources added that the remaining debts, which are commercial debts due to the Japanese government, will be paid back in 66 semi-annual installments starting from the beginning of November 1999.

The sources said that the agreement was ratified according to the results reached during the meeting of the creditor countries of Paris Club in last November.

The countries of Paris Club agreed in the meeting to reschedule Yemen's debts.