Saudi Arabia sponsors $1bn economic reform in Yemen

RIYADH, 28 November 2022, (TON): Under the sponsorship of Saudi Arabia, the Arab Monetary Fund has signed a $1 billion agreement with the Yemeni government to revitalize its flagging economy.
The deal, signed in Riyadh, seeks to establish a comprehensive economic, financial and monetary reform program to improve governance and transparency, expand and diversify production and lower unemployment and poverty.
Saudi Minister of Finance Mohammed Al-Jadaan said that the program will develop Yemen’s financial and banking sector, strengthen the role of the private sector and promote long-term economic development.

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