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UN peace talks were suspended on August 6, after four months of attempted negotiations to end the fierce 19-month war between the exiled government of President Hadi, backed by Saudi Arabia, and Houthi rebels for ex-President Ali Abdullah Saleh, backed by Iran. Since the end of these UN negotiations, the civil war has escalated, with more than 10,000 people reported to have been killed in total, a sharp increase from around 6,400 in April. The UN Special Envoy for Yemen announced preparations to create a fourth round of UN-mediated talks, but these are yet to be confirmed and a lasting political agreement looks some way off.
Meanwhile, with the economy and infrastructure devastated by violence and oil prices weak, the economic outlook looks miserable: after an estimated fall of 28% in 2015, we forecast a further contraction of 10% for GDP this year.
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The Shale Gas and Oil Report from ISA highlights the key developments in the fast-growing shale gas and oil industry. Moreover, this report highlights the developments in shale gas and oil industries outside ...
The economy has started to move out of recession but it will struggle to achieve any more than weak growth this year as the government will have to embark on a fresh round of austerity to rein in the large ...
Our growth forecast has barely changed with no new national accounts data and oil production rising broadly in line with expectations. The base case sees GDP growing by a forecast 4.3% pa over the forecast ...