VOL. XXXVIII

NO. 27

3-APRIL-1995

Financial and Banking News

Economic Policy

Yemen's Tentative Steps Towards Reform Spark Protests

Yemen has devalued its currency to one quarter of its previous valueagainst the dollar as part of a series of measures aimed at restoring some formof equilibrium to its economy. The devaluation was accompanied by a rise in fuelprices and transport fares and immediately sparked violent protests in Aden. Thegovernment has also announced its first budget for three years.

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