SANA'A, Aug. 10—Yemen is still waiting for the Board of the
Removing the fuel subsidy was a condition set by the IMF for the loan agreement that
In late July the government cut the subsidy by 70 percent, meaning that the remaining 30 percent still needs to be cut for it to be a complete removal of the fuel subsidy.
On Friday Reuters quoted the minister of planning and international cooperation,
The former minister of finance,
It said that "donor financing for the budget will be crucial to support economic reforms and to halt a further decline in the already low infrastructure investment." The report added that the IMF provided financial support to
"Staff remain in close dialogue with the authorities on economic policy challenges, including those related to the move to a federal structure of the state," the report reads.
The government spent YR656 billion (
Hadi explained that the government sustains an acute shortage of revenues due to repeated sabotage attacks on oil pipelines, which halt production.
The halt of oil production has also forced the government to import oil. The fuel import bill between January and June of this year was around
The government also declared on
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