أثر الدين الخارجي على التنمية الاقتصادية في الجمهورية اليمنية للفترة 2011- 2020 م

Abstract EN

This research aimed at studying and analyzing the causes of external debt and the impact of the external debt service payments on development in Yemen, identifying the volume of external debt and its implications for the Yemeni economy, and presenting some perceptions that contribute to the possibility of benefiting from external debt.

the study found a set of conclusions, the most important of which is that the reasons for the external debt of the republic of Yemen are ascribed to poor economic performance in the absence of a clear strategy for development and the gaps in both domestic resources and foreign exchange.

there are also negative implications of external debt for Yemen, including capital flight and the use of foreign debt funds to purchase consumer goods through import.

moreover, the external debt service rate is very high compared to the savings-to-output ratio, which means that the burden of external debt is considered a drain and a heavy burden on the national savings.

in addition, the external debt service drains the savings that could have been directed to investments.

the study recommends not resorting to external debt except in the case of extreme necessity so that the loans are directed to economically feasible projects that increase the productive capacity of the country.

furthermore, the solution to the problem of external debt does not lie in rescheduling, but there must be economic policies that improve the economic performance of the country and achieve high growth rates depending on its domestic resources.

besides, the study recommends not resorting to external loans with difficult conditions due to high-interest rates and low grace and repayment period.

it also recommends adopting a rational policy for external debt by setting accurate and clear criteria related to the foundations and conditions of external loans on the one hand, and how to use them on the other hand.