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FINANCIAL NEWS
Yemen to receive $640m from int’l funds
14 Dec 2010
(MENAFN) Nouman Al Suhaibi, Yemen’s Finance Minister, announced that the country shall receive $640 million in funding from international financial funds and institutions to help reduce its budget deficit, Reuters reported.
Yemen has secured $370 million in funding from the International Monetary Fund over the next three years, $200 million from the Arab Monetary Fund and $70 million from the World Bank, revealed Al Suhaibi.
The Arab world’s poorest country’s economy is forecasted to expand by 7.6 percent this year due to liquefied natural gas production and 5 percent growth in non-oil sectors, stated Al Suhaibi.
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