Yemen

Houthi Attacks on Oil Infrastructure ‘Driving Yemen’s Government into Bankruptcy'

Yemen’s internationally recognized government is on the verge of bankruptcy after Houthi attacks on oil facilities in southern Yemen halted all oil exports, and it may not be able to pay public employees in areas under its control in the near future, officials have warned, Yemenonline.com reported. A government source told Arab News public employees in liberated provinces might not receive their salaries in the coming months, adding that the country could experience severe fuel shortages and protracted power outages as a result of attacks forcing the government to stop importing fuel.

Yemen
Read more

With its Economy in Freefall, Yemen Secures IMF Lifeline

Spurred by a rapidly deteriorating economy, the International Monetary Fund has approved a three-year extended credit facility worth $552 million with Yemen, the impoverished Arab nation that has become a breeding ground for the terrorist group al Qaeda in the Arabian Peninsula, The Wall Street Journal Middle East RealTime blog reported. The lifeline will provide some relief for Yemeni authorities who face a myriad of political and security challenges that continue to drag on the economy.
Yemen
Read more