Barran Press
The Central Bank of Yemen, based in Aden, on Wednesday accused government bodies of hindering the utilization of crucial resources needed to fund essential services.
The Bank expressed its disappointment with the government's inaction in mitigating the impact of attacks by the Iran-backed Houthi rebels on key state revenue sectors. It urged the Presidential Leadership Council and the government to bolster its efforts to stabilize the national currency and ensure all revenues are deposited directly into the Central Bank.
The Bank called for an end to illicit resource collection practices and stressed the urgent need to reactivate revenue-generating facilities to improve living conditions and public services for Yemeni citizens.
Reaffirming its commitment to protecting the national currency, the Bank pledged to collaborate with international financial institutions to address the economic fallout from the Houthis' designation as a terrorist group. It also stressed the importance of activating all relevant agencies and institutions to tackle the country's current economic challenges.
Yemen's government is grappling with a severe economic crisis exacerbated by Houthi attacks on oil export ports, which have led to a sharp devaluation of the Yemeni rial. The rial has plummeted to approximately 2,390 against the US dollar and 625 against the Saudi riyal.