Yemen's foreign debts worth 4.76 billion dollars

The total of Yemen's foreign debts due to international and regional organizations and countries through the end of last year, amounted to $4.764 billion.

This was included in a statement released by the Yemeni Advisory Council at the conclusion of a symposium dealing with foreign loans and aid.

The statement also said that the foreign debts were nearly $9.013 billion in 1994, then this amount went down due to the financial and economic reform program and large exemptions from countries of the Paris Club.

Meanwhile, the deputy minister of planning and development in Yemen said that foreign aid and loans played a positive role in achieving development and growth, as well as the implementation of vital projects, referring to the existence of a financial gap for development purposes which creates a continued need to make use of aid and loans.

On the other hand, the deputy of the Yemeni Bank, Salem al-Ashouli, said that Yemen's foreign loans are distinguished by lack of low interest and a relatively long term of repayment.