Yemen’s government signs $1 billion aid package with UAE-based fund

 Yemen’s internationally recognized government signed a deal with the Arab Monetary Fund on Sunday, state media said, paving the way for the Saudi-backed administration to receive USD 1 billion of economic aid.

The Abu Dhabi-based fund, a sub-organization of the 22-member Arab League, will pay out the $1 billion program from 2022 to 2025. The economic deal aims to help the Yemeni government establish monetary and fiscal stability through wide-ranging economic reforms, Saba news agency said.
Yemen’s civil war, which is entering its eighth year, has decimated the country’s economy and pushed half of the population to the brink of famine. More than 150,000 people have been killed in the conflict, including over 14,500 civilians. On average food is 60% more expensive than it was last year, largely due to the war in Ukraine that has cut off the country’s critical wheat imports from Eastern Europe.
The conflict began in 2014 when the Iranian-backed Houthi rebels seized the capital of Sanaa Yemen’s internationally recognized government signed a deal with the Arab Monetary Fund on Sunday....                            read more....