Yemeni Government Discusses Customs Exemptions and Economic Improvements with UN Officials On Tuesday, November 19, 2024, Yemen's internationally recognized Minister of Finance, Salem bin Buraik, held separate meetings with UN officials to discuss customs exemptions and improving economic a...
On Monday, November 18, 2024, the Marib General Conference held its first session to announce its administrative structure, including the presidency, general secretariat, departments, and the oversight and inspection committee. Abdulhaq Ali Al-Qabali was named the president of the conference. T...
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’...
The Central Bank of Yemen’s Lahj branch announced on November 12, 2024, that it has closed several non-compliant money exchange facilities that have not obtained official licenses to operate from the bank. According to Yemen’s official news agency, Saba, the bank's closure...
The internationally recognized Yemeni government held an extensive meeting on November 7, 2024, to evaluate a comprehensive economic rescue plan aligned with its priorities of restoring state authority, ending the Houthi insurgency, and achieving peace. The extraordinary meeting, chaired by Pri...
The National Coalition of Yemeni Political Parties and Components convened its first meeting on November 7, 2024, emphasizing the importance of fostering communication among political forces to establish a unified national front aimed at achieving national aspirations. The meeting, held in the ...
On November 3, 2024, the Public Prosecution, in collaboration with the Central Bank and security forces, closed 11 non-compliant currency exchange companies in Al-Mahra province as part of a broad initiative to regulate currency trading and combat speculation. According to the official Yemeni N...
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 November 1, 2024, security and judicial authorities in Aden, Yemen's temporary capital, closed over 26 currency exchange shops as part of a broader government initiative aimed at stabilizing the national currency, which has been experiencing continuous decline. According to the media cen...
A recent report from the World Bank, released on October 31, 2024, outlines several recommendations to address the financial challenges and mitigate the economic pressures plaguing Yemen, largely due to the ongoing suspension of oil exports. The report highlights that the halt in oil exports, c...
On Thursday, October 31, 2024, Rashad Al-Alimi, President of Yemen's Presidential Leadership Council, met with U.S. Ambassador to Yemen Steven Fagin to discuss the international support needed to mitigate the repercussions of halted oil exports, a situation attributed to the Iran-backed Houthi...
On Tuesday, October 29, 2024, a source in the Presidential Office confirmed that Rashad Al-Alimi, Chairman of Yemen's Presidential Leadership Council, has left Aden, the country’s temporary capital, en route to Riyadh, Saudi Arabia. His visit aims to garner regional and international sup...
On Monday, October 28, 2024, Rashad Al-Alimi, Chairman of Yemen's Presidential Leadership Council, underscored the critical role of the commercial sector in supporting government efforts to curb inflation, maintain service and commodity stability, and improve the national currency's positi...
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...
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 ...
WASHINGTON, D.C. — On Wednesday, October 23, 2024, Yemen's Finance Minister, Salem bin Brik, and Central Bank Governor, Ahmed Ghaleb, held a series of intensive meetings in Washington, D.C., aimed at securing financial resources from the Arab and International Monetary Funds to address t...
In his first statement since rescinding his resignation in July, Ahmed Al-Maabqi, the Governor of the Central Bank of Yemen, announced on Thursday, October 24, 2024, that Yemen has lost over $6 billion in domestic resources over the past 30 months. This loss is attributed to the cessation of oil a...
HADRAMAWT, Yemen In the past few hours, several cities in Hadramawt Governorate have witnessed angry demonstrations and motorcycle rallies in response to the collapse of the national currency and a decline in public services. In Mukalla, the capital of Hadramawt, a symbolic women's mar...
On Wednesday, October 23, 2024, the Office of the UN Special Envoy for Yemen emphasized the urgent need to abandon the zero-sum approach to safeguard the country's economy from further deterioration. The office stated that "positive signals must be translated into concrete actions that be...