Yemen and IMF reach expert agreement on economic reform program

The Central Bank of Yemen has announced the conclusion of talks with an International Monetary Fund (IMF) mission. Experts reached an agreement regarding documents for an economic and financial reform program.

The discussions focused on the IMF's Staff Monitoring Program (SMP), a framework that allows the state to implement reforms under technical supervision without direct funding. This process is viewed as a critical step toward rebuilding trust with international financial institutions and may serve as a prerequisite for future funding arrangements or expanded donor support.

In a related development, the Hadramaut Higher Coordination Council expressed appreciation for recent financial support provided by Saudi Arabia to the Central Bank of Yemen. The Council noted that such assistance is vital for supporting economic, financial, and monetary reforms, helping to stabilize the national currency and improve the purchasing power of citizens.