The internationally recognized Yemeni government emphasized on Friday, October 11, 2024, that its top priority is to "support public finances in Yemen, mitigate the impacts of the currency depreciation, and maintain the stability of institutions and services."

This statement was made by Finance Minister Salim bin Burik during a meeting with U.S. Special Envoy to Yemen Tim Lenderking in Washington, as reported by the official Yemeni news agency Saba.

During the meeting, Bin Burik discussed the latest developments in public finances, the economic war waged by the Iran-aligned Houthi group against the Yemeni people, and collaborative efforts to address the ongoing economic crisis. He noted that "the economic war has effects and repercussions on citizens that rival those of military conflict," stressing that economic stability is essential for resolving the humanitarian crisis exacerbated by Houthi attacks and supply chain disruptions.

Lenderking reaffirmed the U.S. commitment to supporting the Yemeni government and enhancing its economic stability.

In a related meeting, Bin Burik also spoke with the UK Minister of State for Development, Anne-Marie Trevelyan, discussing joint cooperation and support for government performance and economic institutions. He praised British assistance, particularly in strengthening institutional capacities.

According to Saba, Bin Burik highlighted the economic challenges and pressures on public finances due to the Houthi economic war, emphasizing the need for economic issues to be prioritized by regional and global partners as a foundation for peace and alleviating humanitarian suffering.

He also called for specialized programs within international financial institutions to address the challenges faced by conflict-affected countries, ensuring access to developmental financing beyond just technical support.

Trevelyan reaffirmed the UK’s commitment to supporting Yemen politically, economically, and humanitarian, acknowledging the economic challenges the country faces and emphasizing the need for initiatives that cater to countries in conflict.

The Yemeni government is grappling with a severe currency crisis, with the rial reaching its lowest value against foreign currencies. The exchange rate has exceeded 2,000 rials for one dollar, up from 1,676 rials in late April, while the Saudi riyal has surpassed 530 rials after previously being 441 rials.