Yemen and the IMF/World Bank

This is an interesting article, it relates to what we were talking in class about today and the role of the IMF and World Bank.
As we discussed in class, the nation of Yemen is facing severe problems; a decline in oil production as well as eventual water shortages. Similar to how AIG and Leahman Brothers primarily relied on investment in pre-packaged mortgages due to the real estate bubble, yemen has primarily relied on its oil as a source of income.
When this income ends, the socio-economic conditions becomes ripe for reactionary beleif systems. The IMF and World Bank are not pledging new funds but rather helping the country best allocate 5 billion dollars from past donations.

Greg Voegtle



http://news.yahoo.com/s/ap/20100127/ap_on_re_eu/eu_britain_yemen