Armies of Liberation

Saudi Arabia, Russia Yemen’s biggest creditors by far.

Yemen Observer

External Yemeni debt, the debts that Yemen owes to foreign countries, increased to $5.620 billion by the end of July 2007, compared with $5.469 billion at the end of December 2006, according to the official report issued by the Central Bank of Yemen. The amount Yemen currently owes other countries equals some 34 percent of its Gross Domestic Product.

The Central Bank report listed Yemen’s debts to member states of the Paris Club as follows: $1.242 billion to Russia; $233 million to Japan; $99 million to the US; $87 million to France; $24 million to Italy and $26 million to Spain.The Paris Club is an informal group of financial officials from 19 of the world’s richest countries which provides financial services such as debt restructuring, relief and cancellation to indebted countries and their creditors.

The report showed that debt to non-members of the Paris Club is also large, having reached $978 billion. It includes debts of $318 million to the Saudi Fund; $164 million to the Kuwait Fund; $154 million to Kuwait Deposits; $170 million to China; $34 million to Korea; $79 million to Algeria; $35 million to Poland and $17 million to the Iraqi Fund. (Read on …)

Syrian FM praises Yemeni regional stands

[30 November 2007]

DAMASCUS, Nov. 30 (Saba) – Syrian Foreign Minister Walid Muallem expressed on Thursday his appreciation of the Yemeni regional stands on the Arab issues.

During his meeting here with Yemeni ambassador to Syria Salah al-Ansi, Muallem asserted the firmness of relations between the two brotherly countries and his country’s keenness on boosting them in the future.

Al-Ansi affirmed, for his part, willingness of the government to advance the Yemeni-Syrian ties to serve both peoples’ interests.

Loan form China to finance Chinese company that will build cement factory

Chinese deputy minister of foreign affairs to visit Yemen soon

[30 November 2007]

SANA’A, Nov. 30 (Saba)- Chinese Deputy Minister of Foreign Affairs is to visit Yemen by mid of next month, 26sep.net report on Friday.

According to official sources, the Chinese official would hold talks with the officials in the Ministry of Planning and International Cooperation to sign a loan agreement at 40 million Yuan.

The sum will be used to develop Bajel Cement Factory that will be implemented by a Chinese company at amount of $115 million.

AH/AM

Saba

Al-Motamar: Russia to build trains.

almotamar.net – Yemen’s ambassador to Moscow Mohammed Saleh al-Hilali announced Friday that Yemen plans to build a railroad that will link Yemen to Saudi Arabia and Oman with the help of Russia.

Al-Hilali called on Russian businessmen for investing in this project and affirmed that the Yemeni government would offer facilities and guarantees t foreign investors.

In an interview with the Russian Novosty news agency the Yemeni ambassador announced that the Russian-Yemeni Business Council would, under a support from the Russian Ministry of Economic Development and Trade, the Russian Foreign Ministry, Russian Chamber of Commerce and Industry would organise the Russian-Yemeni Forum in Sana’a on 8-12 of December , 2007.

The forum aims to develop relations between governmental industrial, financial and scientific circles in Yemen and Russia.

Yemen plans to build railway linking with Saudi Arabia, Oman

[01 December 2007]

SANA’A, Dec 01(Saba)- The Yemeni ambassador to Russia Mohammed Saleh al-Hilali has said to the Russian news and information agency “RIA Novosti” that Yemen plans to build railways linking Yemen with Saudi Arabia and Oman, the state-run 26sep.net reported on Saturday.

Al-Hilali urged Russian businessmen to invest in the project, affirming the government would offer special facilitations to the Russian investors.

Al-Hilali noted the Yemeni-Russian Businessmen’s Council would organize a forum to reinforce relations between industrial, financial, scientific and governmental bodies in the two countries.

The forum will be organized under an invitation from the Russian Ministry of Economic Development and Trade, Foreign Ministry and the Chamber of Commerce and Industry of the Russian Federation.

FR/YA