Yemeni government requests international support to build and enhance the capacities of its financial institutions

The Yemeni government has renewed its demands for the International Monetary Fund to provide assistance and support in building and strengthening the capacities of financial institutions in the country.

This came during a meeting of Finance Minister Salem bin Braik, today, in the US capital, Washington, with representatives of the International Monetary Fund, in the presence of the Department of Financial Affairs, according to the Yemeni News Agency (Saba).

According to the agency, the meeting discussed mechanisms for building and enhancing the capabilities of financial institutions, the difficulties they face, their infrastructure requirements, and the need to support the Ministry of Finance to start the unified treasury system, and the Tax and Customs Authorities in information systems.

Bin Braik reiterated the importance of continuing the roles and support of the International Monetary Fund, represented by the Financial Affairs Department, to help build financial institutions in Yemen, in order to achieve its goals in formulating sound financial policies in accordance with the best international practices.

Bin Braik noted the importance of the roles of the Financial Affairs Department at the IMF in supporting the Ministry of Finance and its affiliated departments, which had a significant impact in achieving a number of goals, through implementing some of those roles through the Middle East Center (METAC) and the office’s experts in Washington to enhance public finance capabilities.

The Minister of Finance stressed the importance of international efforts to enhance public finance capabilities in the area of tax policies by improving and developing tax procedures, the tax audit guide, the Tax Authority structure project, digitizing tax procedures, reviewing tax policies, as well as supporting the Customs Authority in building information systems capabilities, in addition to the field of budget implementation reforms.