Yemen calls on donors to reduce its foreign debts

SANA'A, Jan. 27 (Saba)- A Yemeni
official has called on the donor countries and organizations participating in the
London
conference on Yemen to reduce his country's debts since servicing them has become
dependent on the public budget.
In an interview with the London-based newspaper al-Hayat, Hisham Sharaf, the deputy
Minister of Planning and International Cooperation, urged the industrial countries
and
the principal international organizations, in particular the World Bank, to take
courageous steps towards Yemen to halve its debts.
"Yemen's foreign debts are estimated at $ 6 billion, most of them to international
and Arab financial institutions", Sharaf said.
"The time has come for brotherly and friendly countries, in particular the Gulf
Cooperation Council states, to look at supporting the Yemeni balance of payments so
as to
strengthen Yemen's financial position and national currency. We need such a step
which we deserve. Yemen used to have such support for the balance of payments 15
years ago".
The Yemeni official pointed out that Yemen needs $50 billion during the next 10
years to build an infrastructure that serves the citizen, attracts investment, and
moves
Yemen from the least developing countries to the ranks of developing ones which
achieve development and improve basic services.
Sharaf expected the London conference to unify the international community's vision
of the security, economic, and development challenges facing Yemen, draw up the
concepts
for helping and standing with it in terms of development, and raise its military and
security capabilities so as to achieve security in the Red Sea, Gulf of Aden, and
Arabian
Sea areas.
He said Yemen intends to present its ideas to the conference in which 21 foreign
and Arab countries are participating. Yemen's delegation will be led by Prime
Minister Ali
Mohammad Mojawar.
The Yemeni official went on to say: "We are hoping that the London conference will
be the right opportunity for highlighting before everyone the challenges facing
Yemen.
We believe the world can achieve with us a partnership for confronting them in the
right way".
He pointed out that Yemen needs those who stand with it against the security,
economic, and development challenges, especially poverty, unemployment, and the
needs in the
roads, health, education, water, sewage, ports, and airports fields.
Sharaf stressed that his country pledges to press ahead with the implementation of
a programme of serious and comprehensive reforms in all fields, particularly those
of
administration and economy, and to establish the authority of security and law and
deal with the world in a good way.
He added that Yemen does not have a problem with its ability to absorb the foreign
grants and loans, saying that its problem is one of management and it can absorb
twice
the amount of $5.7 billion pledged by the donors at the London conference held in
February 2006.
He stressed that Yemen "will become a large workshop for absorbing the money and
2010 is going to be the year of completing the signing of the financing agreements,
putting
out tenders, and asking companies to start implementing the various development
projects".
YA