Yemen committed to settling existing debts

The Arab Monetary Fund chairman said it is unlike Yemen to pay debts late. (AFP)
Updated 11 February 2019

Yemen committed to settling existing debts

  • The Arab Monetary Fund chairman says Yemen will pay the debts according to a new schedule
  • The AMF will prepare a detailed study of the current financial state in Yemen

DUBAI: Yemen’s government has said it remains committed to paying back loans to the Arab Monetary Fund (AMF) that were due in 2016, and once paid back millions of dollars more will be made available state news agency SPA reported.

Yemen borrowed the money to fund the fight against the Houthi militia, but have been unable to repay the funds by the agreed date.

Abdul Rahman Al-Humaidi, chairman of the Arab Monetary Fund, said Yemen would now pay the loans according to a new schedule.

But Humaidi said it was uncommon for Yemen not to repay its debt on time.

He said the AMF was ready to help Yemen modernize its central bank by preparing a comprehensive study of the current financial situation and the banking sector in Yemen.

Al-Humaidi said Arab Trade Financing Program would provide payments of up to $150 million once Yemen had repaid its existing debts.


Marine monitor reports departure of Iran tanker after Gibraltar rejects US demand

Updated 30 min 10 sec ago

Marine monitor reports departure of Iran tanker after Gibraltar rejects US demand

  • Gibraltar authorities have not confirmed the tanker's departure

GIBRALTAR: The Iranian oil tanker at the center of a diplomatic dispute departed from Gibraltar late Sunday after the British overseas territory rejected a US demand to seize the vessel.
According to the monitoring website Marine Traffic, the supertanker which had been detained since July 4 off the coast of Gibraltar lifted anchor Sunday evening and started sailing south.
Authorities in Gibraltar have not confirmed its departure.