Government mulls over use of SDRs to address economic crisis

2021-09-03 | Since 2 Month

RIYADH (Debriefer)--Yemen's internationally recognised government on Thursday said it is mulling over all possible options to use Special Drawing Rights at the International Monetary Fund as it is seeking to address exacerbating economic and humanitarian crises.

At a virtual meeting with the World Bank, Prime Minister Maeen Abdulmalik said these assets must be used carefully and according to national priorities, the state Saba news agency reported.

The government is keen on learning from the World Bank's expertise to support reforms and build the capacities of the Central Bank to help address economic challenges including the national currenc's depreciation, he said, according to the agency.

We are also looking forward to support from donors and the member states of the Saudi-led coalition to measures aimed at achieving fiscal stability, he added.

The World Bank voiced readiness to provide technical support to improve the fiscal policies and performance in the country, according to Saba.

More discussions will be held within the efforts to help the government use the Special Drawing Rights to meet basic needs and to guarantee that part of these rights will be spent to sustainable programmes that will contribute to economic recovery, the Bank added.

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