The Regional Representative of the International Fund, Ghazi Shbeikat, announced that Yemen will receive $665 million from International Monetary Fund reserves, which will help alleviate a severe economic and humanitarian crisis in the war-torn country. The amount represents Yemen’s share of the liquidity that the International Monetary Fund will supply to global markets, by increasing its reserves of Special Drawing Rights, with a total value of 650 billion dollars, distributed based on the members’ shares in the Fund’s reserves. He added that the allocation of special drawing rights will boost Yemen’s foreign exchange reserves by more than 70 percent and will provide much-needed support to help address the crisis, including the urgent food and medical needs of the population.

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Tamara Boulos

Tamara Boulos

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