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Thursday 05, March 2009 by

The IMF takes a look at Yemen

Yemen remains one of the poorest countries in the region and is far from achieving the Millennium Development Goals. Oil production has been in decline since 2000. In the absence of major discoveries, reserves could be depleted in 10-12 years. The start of a new liquefied natural gas (LNG) project from 2009 will only partly compensate for the expected decline in crude oil. Yemen faces considerable challenges in dealing with the transition to a non-oil economy, generating strong non-hydrocarbon economic growth, ensuring fiscal and external sustainability, and reducing poverty and unemployment.

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