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IMF backs Yemen economic reforms
The Yemeni government and the International Monetary Fund have reached a preliminary agreement on an 18-month economic reform program aimed at stabilizing the economy, enhancing financial and monetary reforms, and improving the management of public resources. The Fund expects the Yemeni economy to continue experiencing a contraction of up to 1.5% during 2026 due to the impacts of the war and the energy crisis, with some stability anticipated in 2027 as regional conditions improve. The program includes measures to boost revenue through exchange rate liberalization for customs, strengthen tax compliance, improve transparency and price stability, and rebuild foreign reserves. Additionally, it focuses on reforming the financial and banking sectors, as well as the electricity sector, to reduce reliance on government support and enhance efficiency and sustainability. Fundamental reforms and ongoing follow-up are deemed essential to strengthen Yemen’s capacity for economic recovery and attract increased international support.
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