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IMF approves $369.8m Yemen aid package

The International Monetary Fund (IMF) has approved a three-year $369.8m extended credit facility arrangement for Yemen to support the country's economic reform programme, Yemen Observer has reported. Yemen is embarking on a three-year economic programme that aims to achieve high and sustained growth and durable poverty reduction over the medium term, the IMF said. "An initial disbursement equivalent to $52.8m is available to the Yemeni authorities immediately, with subsequent disbursements subject to semi-annual reviews," it said in a statement.