IMF Welcomes GCC initiative

by Mohammed al-Kibsi The International Monetary Fund kept meeting with Yemeni officials to discuss ways of improving the economic situations in Yemen. The IMF welcomed the GCC brokered deal , that is backed by the UNSC, of power transition in Yemen "The IMF welcomes the signing of the agreement, which we hope will bring the crisis to an end. The agreement involves a formation of a new government that we look forward to working with. We understand that the new government will put in place an economic stabilization plan as per the GCC agreement, and we stand ready to support such a plan with an IMF-supported program if the new government wishes to reengage with the IMF," said an IMF official on December 1. IMF's David Hawley said that the IMF's program with Yemen are “on hold in the current situation,” and then referred to comments by IMF Middle East and Central Asia director Masood Ahmed -- who is the one who said, the previous day in Dubai, that the IMF is “ready to work with the Yemeni authorities... once the situation allows.”