Yemeni families across the country are struggling with the rising cost of living as the local currency continues to plummet. The situation is worsening as the holy month of Ramadan approaches, traditionally a time of increased spending on food and other goods. A decade of war has left many Yeme...
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 H...
In the closing months of 2024, Yemen's economic crisis reached its peak, leaving the internationally recognized government unable to pay employee salaries for several months. Desperate, the Yemeni government appealed to the international community for aid. Following a series of meetings held b...
On December 11, 2024, the Houthi group, classified as a terrorist organization internationally, announced their readiness to "move forward with signing the economic agreement and ensure its implementation," provided they receive certain guarantees. This marks the first time the Houthi...
On December 11, 2024, the Central Bank of Yemen, based in the temporary capital of Aden, announced the official implementation of the International Bank Account Number (IBAN) system for local and international money transfers. The announcement was made during a comprehensive meeting organized b...
A recent economic study revealed that Yemen's budget has become heavily reliant on foreign aid, accounting for more than 30% of its total revenue. The report, published by the Yemeni Future Center for Strategic Studies, highlights that in 2014, foreign aid represented 43% of the country’...
On November 2, 2024, the Yemeni Presidential Leadership Council reiterated its commitment to taking "full responsibility" for alleviating the country's dire living conditions. The council expressed its unwavering dedication to strengthening unity and focusing on the critical battle t...
Yemeni Prime Minister Ahmed Awad bin Mubarak has emphasized the need for intensified efforts to crack down on illegal currency exchange operators and speculators across all liberated provinces, as the national currency continues to plummet in value. According to the official Yemeni News Agency ...
On Monday, October 28, 2024, Ahmed Ghaleb Al-Maabqi, the Governor of the Central Bank of Yemen, presented a proposal to the World Bank focusing on key priorities for developing the monetary sector in Yemen. This presentation took place during a meeting with Waed Bazeeb, the Minister of Planning...
An economic meeting chaired by Rashad Alimi, President of the Presidential Leadership Council, was held on Sunday to expedite the implementation of a "rescue plan" aimed at curbing currency speculation and enhancing regulatory measures to support the independence of the Central Bank of Y...