Fiscal Year 2027
Capacity Development Activities
Financial Supervision and Regulation
ICT and Cybersecurity scoping mission (July 21-23)
METAC assessed the Central Bank of Yemen’s (CBY) institutional, regulatory, and supervisory arrangements for overseeing ICT and cybersecurity risks in the banking sector and identified key priorities for future capacity development. The assessment provided METAC and the authorities with a shared understanding of the mandate, governance arrangements, resource needs, and operational challenges associated with the newly established ICT and Cybersecurity Division, as well as its relationship with the Banking Supervision Department. The mission identified gaps in the regulatory framework, supervisory methodologies, and institutional capacity needed to address the growing ICT and cybersecurity risks arising from increased financial sector digitalization. Based on these findings, the mission and the CBY agreed on a medium-term roadmap to strengthen ICT and cybersecurity supervision, including regulatory development, capacity building, and the future introduction of specialized off-site monitoring and on-site supervisory tools. The assessment will inform the design and sequencing of a phased METAC technical assistance program in this area.
Governance and Anti-Corruption
Anti-Corruption Strategy Implementation (July 28-31)
In their first mission to Yemen, METAC’s Governance and Anti-Corruption focused on understanding with the Central Organization for Control and Auditing (COCA) analysis of corruption related risks, and its ability to detect, prevent, and address corruption when those risks are deemed to be severe. The mission identified priority areas where capacity development could add value in strengthening anti-corruption and governance frameworks and assessed vulnerabilities and needs, feasibility, sequencing, and potential entry points for support.
Revenue Administration
Development of a digital transformation roadmap (July 16-23)
The mission assisted the General Taxation Department (GTD) in developing a Digital Transformation Roadmap to support revenue mobilization and the modernization of tax administration. The mission assessed GTD’s institutional arrangements, core tax administration functions, data environment, and technology landscape, identifying challenges related to fragmented taxpayer information, limited digital services, manual processes, and weak management information. Based on these findings, the mission developed a future-state vision, target operating model, phased Digital Transformation Roadmap, and reform governance framework to guide GTD’s modernization efforts and support the transition to a more digital, risk-based, and taxpayer-focused administration.
Real Sector Statistics
Real Sector - National Accounts (May 13-21)
The Central Statistical Organization of Yemen advanced work on the 2025 GDP estimates and strengthened its understanding of practical compilation approaches in a highly constrained environment. The mission helped clarify source data requirements, introduced simplified compilation methods to accelerate progress, and supported the initial compilation of selected GDP components. It also facilitated knowledge exchange with Egypt’s Central Agency for Public Mobilization and Statistics and strengthened coordination with the World Bank and the Organization for Economic Co-Operation and Development on future support. While the CSO demonstrated strong commitment and had collected substantial source data, the mission identified capacity constraints, data gaps, and processing challenges. The mission concluded that finalizing and publishing a new 2025 GDP benchmark by March 2027 would require a substantial increase in support, including additional compilation workshops and continued partner coordination.
