Minister of Finance Dr. Marwan Bin Ghanem, Minister of Planning and International Cooperation Dr. Afrah Al-Zouba, and Governor of the Central Bank of Yemen and IMF Governor for the Republic of Yemen Ahmed Ghaleb met today with Dr. Mohamed Maait, Executive Director representing the Arab Group and the Republic of Maldives at the International Monetary Fund (IMF), on the sidelines of the World Bank Group and IMF Spring Meetings currently taking place in Washington, D.C.

The meeting reviewed the difficult economic and fiscal conditions facing Yemen amid escalating tensions in the Middle East and their direct impact on the country’s economy. Discussions focused on the sharp increase in shipping and insurance costs, rising food and energy prices, and the resulting pressures on public finances, which have further complicated the government’s efforts to meet essential humanitarian needs.

In this context, the Yemeni delegation emphasized the importance of intensified support from international partners and donors and called for urgent and exceptional financial assistance to help the government mitigate the impact of these developments while preserving a minimum level of economic stability and essential public services.

The meeting also discussed the IMF Executive Board’s approval of the report on the resumption of Article IV Consultations with the Republic of Yemen and reviewed the options available for preparing the country to engage in a comprehensive programme of fiscal and monetary reforms with the Fund.

Discussions included the possibility of entering into Staff-Monitored or other preparatory programmes that would help position Yemen to access the IMF’s emergency financing instruments, consistent with the approaches adopted for other member countries facing similar circumstances.