Yemen’s external debt at $7.2bn in late 2013

International financing organizations make up the largest creditors with collective loans worth $3.5bn

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Yemen’s external debt stood at $7.2 billion in Nov. 2013, down $50 million from last Sept., according to Central Bank figures reported by al-Hayat.

International financing organizations such as the Arab Monetary Fund, International Monetary Fund, the OPEC Fund for International Development and others make up the largest creditors with a collective loans worth $3.5bn, according to Yemen’s central bank.

Yemen’s external public debt stands at $1.6bn, divided among member countries of the Paris Club. Creditors that are not part of the Paris Club include Algeria, Poland, and South Korea, the Saudi newspaper reported.

The country also owes $1.5bn to the Saudi Development Fund, the Kuwait Fund for Arab Economic Development and the Iraqi Fund, added the report.

Other unspecified debt amounts added up to $515.9m, added the Saudi newspaper.

Yemen’s external assets increased by $3.2m last December, as the report noted relatively stable levels of central bank foreign reserves, reported al-Hayat.

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