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
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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.


US-backed SDF hand Iraqi, foreign Daesh fighters to Iraq

Updated 18 min 54 sec ago
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US-backed SDF hand Iraqi, foreign Daesh fighters to Iraq

  • The handover was the first of several under an agreement brokered to handover a total of 502 fighters
  • News of the handover came as US-backed forces were readying for an assault on the militant group’s final enclave in eastern Syria

BAGHDAD: US-backed Syrian Democratic Forces (SDF) handed over more than 150 Iraqi and other foreign Daesh fighters to Iraq on Thursday.
The handover was the first of several, two Iraqi military sources told Reuters, under an agreement brokered to handover a total of 502 fighters.
“The majority of the fighters are Iraqi,” said a military colonel whose unit is stationed at the Syrian border. “But we have a few foreigners.”
The mayor of Iraqi border town Al-Qaim, Ahmed Al-Mahallawi, said some fighters’ families were also transferred.
“Early this morning, 10 trucks loaded with Daesh fighters and their families were handed over by SDF forces to the Iraqi army,” he said.
“The majority of them are Iraqis and the convoy was under maximum security protection headed to the Jazeera and Badiya military headquarters.” Both bases are located in Anbar province.
The SDF and the US-backed coalition could not immediately be reached for comment.
News of the handover came as US-backed forces were readying for an assault on the militant group’s final enclave in eastern Syria. The last civilians are expected to be evacuated on Thursday, to clear the way for the assault, the SDF said.
Around 800 of foreign extremist fighters who joined Daesh, including many Iraqis, are being held in Syria by the SDF, the group said. More than 2,000 family members are also in camps, with dozens more arriving each day.
Their fate has become more pressing in recent days as US-backed fighters planned their assault to capture the last remnants of the group’s self-styled caliphate.
On Tuesday, Iraqi Prime Minister Adel Abdul Mahdi said Iraq was carefully monitoring the situation at its Syrian border amid concerns that the remaining Daesh fighters could stream across the border.
The militant group still poses a threat in Iraq and some western officials believe that the group’s leader, Abu Bakr Al-Baghdadi, may still be hiding there.