Yemen’s economy is forecast to contract this year, the International Monetary Fund stated, as the country’s outlook relies on peace talks and a commitment to reforms. Regional conflict and tension in the Red Sea, where Houthi rebels have been attacking ships for more than a year, have deepened the humanitarian crisis in Yemen, where already more than 17 million people face food insecurity. Yemen is the Arab world’s poorest state and the IMF has not conducted an Article IV mission there since civil war broke out in the country in 2014.
