VOL. XL

No. 49

8-December-1997

YEMEN

Yemen Reschedules Arrears With Russia

At a meeting of the Paris Club of official creditors held on 18-22 November, Yemen andRussia agreed to reschedule and re-profile some $6.5bn in debts owed by the formerPeople's Democratic Republic of Yemen and the Yemeni Arab Republic to the former SovietUnion. According to Yemeni radio, Russia wrote off 80% of the debt and accrued interest,while the remaining 20% was restructured under Naples terms, which allow a...