Yemen's foreign debt drops $27m in March

Yemen's foreign debt fell last March about $ 27 million torecord the outstanding balance of $ 7 billion and $ 293 million.According to a report issued by the Central Bank of Yemen (CBY) and Saba got acopy of it, the international financial institutions accounted for the largestproportion of the debt owed by Yemen with $ 3.6 billion, of which is more than $ 2billion in favor of the International Development Association and about $ 773million in favor of the Arab Fund for Development .The total indebtedness of Yemen to the Member States in the Paris Club amountedto about $ 1.6 billion, the bulk of which is in favor of the Russia at about $ 1.14billion ,while the balance of the debt owed to the non –Member States in Paris Clubamounts to over $ 1.5 billion, the bulk of which is in favor of the Saudi Fund at about $ 1.3 billion.Moreover, according to the report, there is $ 518 million owed by Yemen tounknown destinations.