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Phone Code: 00967Root-level Domain Code: .ye
Phone Code: 00967
Root-level Domain Code: .ye
Background: North Yemen became independent of the Ottoman Empire in 1918. The British, who had set up a protectorate area around the southern port of Aden in the 19th century, withdrew in 1967 from what became South Yemen. Three years later, the southern government adopted a Marxist orientation. The massive exodus of hundreds of thousands of Yemenis from the south to the north contributed to two decades of hostility between the states. The two countries were formally unified as the Republic of Yemen in 1990. A southern secessionist movement in 1994 was quickly subdued. In 2000, Saudi Arabia and Yemen agreed to a delimitation of their border.
Economy Overview: Yemen, one of the poorest countries in the Arab world, reported average annual growth of 3.5% from 2000 through 2006. Its economic fortunes depend mostly on oil. Oil revenues probably increased in 2006 as a result of higher prices. Yemen was on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which led to substantial foreign debt relief and restructuring. However, government dedication to the program waned in 2001 for political reasons. Yemen is struggling to control excessive spending and rampant corruption. Yemen is dependent on foreign aid to finance its budget deficits and development projects. In November, Yemen secured $4.7 billion in assistance from Arabian Gulf and Western donors.
Geography Note: strategic location on Bab el Mandeb, the strait linking the Red Sea and the Gulf of Aden, one of world's most active shipping lanes
Location: Middle East, bordering the Arabian Sea, Gulf of Aden, and Red Sea, between Oman and Saudi Arabia
Natural Resources: petroleum, fish, rock salt, marble; small deposits of coal, gold, lead, nickel, and copper; fertile soil in west
Geographic Coordinates: 15 00 N, 48 00 E
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