Crisis in Yemen could hamper IMF’s loan programs

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The International Monetary Fund (IMF) has approved a $553 million loan to support Yemen’s growth plans, reinforce its fiscal positions and fight poverty, Christine Lagarde, the IMF managing director, told Al Arabiya’s Lara Habib from Washington on Friday.

But, the political deadlock may hamper the execution of IMF’s loan programs, Lagarde said.

“Our programs are designed in partnership with the local authorities, and we very much hope that local authorities will continue to implement the programs,” Lagarde said.

Further explaining the technicalities, Lagarde said that “our programs include regular reviews, upon each review we see what has been done, what was promised, and what is the likelihood of success going forward.”

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