UN envoy to call on speeding up int'l aid to rebuild Yemen

Minister of Planning and International Cooperation revealed Wednesday that the ministry is preparing currently an urgent plan for economic recovery. During his meeting with UN envoy to Yemen Jamal bin Omar, Mohammed al-Sa'adi pinned hopes on a vital role to be played by UN to mobilize regional and international support to assist the National Reconciliation Government to meet the transitional phase requirements, overcome the political crisis's repercussions, restore the infrastructure and basic services and improve the citizens' living conditions.

Al-Sa'adi briefed the UN envoy on intention to re-list the development priorities included in the 4th five-year plan for economic and social development and poverty reduction in harmony with the requirements of the coming stage.

Yemen’s economy report for 2011

SANA’A: After several months of instability and severe disruptions in the country’s main industrial, financial and economic activities, the government reported that Yemen suffered losses exceeding $10 billion since February. Several financial institutions amongst which the World Bank and the IMF have warned that Yemen was on the verge of a meltdown if no political solution was found quickly as the country could not possibly carry on at this pace for much longer.

Yemenis Hopeless About Economy as Revolt Continues

WASHINGTON, D.C. -- Yemenis see their economy at a near standstill after months of violence and political instability. Fewer than 1 in 10 Yemenis described local economic conditions as good in late July and 3% saw the situation getting better. In addition, 5% said it was a good time to find a job locally.