Yemen’s external debts amount to $5.9 billion

16 May 2010

(MENAFN) The Central Bank of Yemen (CBY) said in a statement that the country?s total external debt edged up to $ 5.9 billion at the end of January, up 3.2 percent year-on-year (y/y) from the same month of 2009, Reuters reported

According to the statement, Paris Club countries made up just over 29 percent of outstanding obligations, with the bulk of this debt ($1.2 billion) owed to Russia in particular.

Outstanding obligations owed to multinational organizations accounted for 53 percent of Yemen’s external debt, or $3.2 billion, the central bank said.

Debt owed to the World Bank’s International Development Association grew 7.3 per cent y/y to $2.2 billion, and debt owed to the International Fund for Agricultural Development was up 11.9 percent y/y to $129 million.

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