EconSource: Yemen banks on IMF loan deal to slash subsidies

Follow the latest in economic news and developments about the Arab transition countries. 

Yemen hopes a loan deal from the IMF that will allow it to start cutting costly energy subsidies will be sealed this month, according to the finance minister. Yemen has been holding technical talks with IMF officials for several months and is expected to hold detailed negotiations in Jordan next week. [Oman Tribune]
The Egyptian government will launch a tourism development fund worth $1 billion in June in a bid to revive the country’s ailing tourism industry, according to Karim Helal, a financial advisor to the Egyptian Federation of Tourist Chambers (EFTC). [Zawya]
The Moroccan government announced yesterday its decision to increase domestic electricity prices in August. The move will be gradual leading towards the removal of subsidies. [Al-Hayat (Arabic)]
Yemen deposited its “Instrument of Acceptance” on May 27, 2014 with Director-General Roberto Azevedo, confirming its membership terms. According to WTO rules, Yemen will become a full-fledged member on  June 26, 2014. [National Yemen
Also of Interest:
Egypt pound weakens at central bank sale, stable on black market | Reuters
Egypt’s elections and its faltering economy | BBC
Jordan launches 2014-2019 National Export Strategy | Jordan Times
Morocco: Debate to raise minimum wage in the public sector | Le VieEco (French)
Yemen to create a Supreme Council for Youth | Al-Shorfa