VOL. XXXIX

No. 16

15-January-1996

YEMEN

Yemen Abandons Policy Of Official Exchange Rate

Yemen's Deputy Prime Minister and Minister of Planning and Development, Mr. 'Abd al-Qadir Bajammal, announced on 6 January that San'a had abolished its official exchange rate system for the riyal as of 1 January. The measure is part of an economic reform program undertaken in cooperation with the World Bank and International Monetary Fund (IMF) (MEES, 25 December 1995/1 January 1996). Last March, the...