DUBAI: Yemen’s government faces challenges due to a 10 percent decline in the country’s gross domestic product over the past year, as well as the deterioration of state revenues by more than 65 percent, Yemen’s ambassador to Washington has said, according to Saudi state news agency SPA.
The statement was made during a meeting organized by the Yemeni embassy in the US, where Ambassador Ahmed Awad bin Mubarak reviewed the latest economic and humanitarian developments in the country.
Mubarak pointed out that the steps taken by the government to address these challenges and economic imbalances will come through reform packages, which include allowing the import of petroleum products, liberating the exchange rate, and signing a number of economic agreements with the World Bank, Saudi Arabia, and several other countries.
The Yemeni ambassador explained the government’s efforts to address imbalances in the financial sector and stimulate the private sector through measures that will raise government resources and support the country’s basic imports.
Yemen’s ambassador to Washington says country faces challenges due to low GDP
Yemen’s ambassador to Washington says country faces challenges due to low GDP
Algeria buys wheat in tender, talks to continue on Wednesday, traders say
- Algeria’s purchases are optional origin, but traders expected the Black Sea region to supply a substantial share
- Traders said they believed French wheat was again excluded from the tender
HAMBURG/PARIS: Algeria’s state grains agency OAIC has bought milling wheat in an international tender that closed on Tuesday, European traders said.
Purchases were reported at around $259 and $260 a metric ton, cost and freight (c&f) included, they said. Earlier reports of trades at $257 were unconfirmed.
The size of the purchase in tonnage terms was not initially clear, although some early estimates were of several hundred thousand tons purchased.
Tender negotiations are expected to continue on Wednesday after pausing on Tuesday for the end-of-day fasting break during the Ramadan holy month, traders said.
Algeria’s purchases are optional origin, but traders expected the Black Sea region to supply a substantial share.
Traders said they believed French wheat was again excluded from the tender. Diplomatic tensions between Paris and Algiers have brought French wheat sales to Algeria to a virtual halt since mid-2024.
The wheat was sought for shipment in three periods from the main supply regions, including Europe: April 16-30, May 1-15 and May 16-31. If sourced from South America or Australia, shipment is one month earlier.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later. In its previous tender on January 19, Algeria bought around 600,000 tons of milling wheat at about $254 a ton c&f.
