Undersecretary of the Ministry of Finance, Dr. Ahmed Hajar, said on Sunday that the loan agreement signed by the Arab Monetary Fund with the government loyal to the Saudi-led coalition aimed to flood Yemen with loans as part of targeting the Yemeni economy.
In a statement to Al-Masirah TV Channel, Hajar explained that this loan is the largest, and the interest rate in it is many times that of loans from international institutions.
He confirmed that the projects that would be funded by the Arab Monetary Fund’s loan are unknown, and they would certainly serve the coalition countries and not the Yemeni society.
The Finance Ministry Undersecretary indicated this load would lead to a rise in exchange rates, affirming that “the pro-coalition government agreement with the Arab Monetary Fund cannot be accepted because it is illegal.”
He pointed out that all the economic policies pursued by the coalition countries in Yemen are in violation of the laws.