A government meeting in Aden, the temporary capital of Yemen, addressed the repercussions of currency devaluation and the impact on citizens' livelihoods, as reported by the official Yemeni News Agency, Saba. The meeting brought together Deputy Minister of Industry and Trade Salem Al-Wali, ...
Since the beginning of last week, Aden, the declared interim capital of Yemen, has witnessed intensified government efforts aimed at stabilizing the local currency and preventing its complete collapse. The Yemeni rial has recently plummeted, with the dollar exceeding 2,000 rials, marking the lowes...
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...
The internationally recognized Yemeni government renewed its call for international support on Tuesday to address the humanitarian and economic crises in the country, while also seeking to bolster its capabilities to protect its territorial waters and deter Houthi aggression. In a statement del...
Yemeni Prime Minister Ahmed Awad bin Mubarak directed the Ministry of Industry and Trade on Thursday to continue simplifying procedures to support private sector involvement in economic reforms. He emphasized the need to complete the ministry's electronic portal and enhance data and informatio...
On Wednesday, October 2, the Yemeni rial experienced another decline against foreign currencies in areas controlled by the internationally recognized government, following a slight recovery in recent days. A "Barran Press" reporter noted that today's exchange rate for the local cu...
An analysis by the Washington-based Arab Gulf States Institute (AGSI) has identified the Houthi group's economic vulnerability as its Achilles' heel, arguing that decisions made by the Central Bank in Aden, though later retracted, could have effectively crippled the group. The analysis,...
Yemeni President Rashad al-Alimi on Wednesday, July 31, 2024, stressed the government's commitment to maximizing the private sector's leading role in development, job creation, economic recovery, and addressing challenges. He emphasized the need to streamline services, particularly i...
Since the Houthi militia, designated as a terrorist group by the international community, seized control of Yemen's capital Sana'a in September 2014, the country's economy has been in a state of unprecedented collapse. The Houthis' control over the Central Bank of Yemen, used to...
Seventeen deputy governors from six Yemeni provinces have denied receiving government "living expenses" that have sparked widespread controversy on social media platforms. The denial came in a statement signed by the officials on Saturday, July 20, 2024. The statement, which was...
The recent decisions made by the Central Bank of Yemen, headquartered in the temporary capital of Aden, continue to be a focal point of debate among Yemenis, both in public spaces and on social media platforms. These discussions have intensified as international and UN actors push for the inter...
In a meeting held on Monday, July 15, 2024, Osman Mijalli, a member of the Presidential Leadership Council in Yemen, highlighted the council's response to its constitutional responsibilities and moral commitment to alleviate the Yemeni people from the successive crises imposed by the internati...
The Yemeni Minister of Finance, Salem bin Brik, met with his Qatari counterpart, Ali al-Kuwari, on Tuesday, July 2nd, 2024, to discuss the latest economic and financial developments in Yemen. The meeting focused on the significant challenges facing the country's public finances amidst the ongo...
A recent economic study, published on June 30th, 2024, argues that Yemen's economic woes are rooted in deeper issues than simply relocating bank headquarters, citing the halt of oil exports and the collapsing currency as key contributing factors. The study, authored by economist and analyst...
The World Bank has issued a stark warning about the deteriorating state of Yemen's public finances, attributing the decline to a significant shift in import routes from Aden to ports controlled by the Houthi rebels. The Bank's latest Yemen Economic Monitor report, seen by "Ba...
UN Special Envoy for Yemen, Hans Grundberg, revealed on Thursday, June 13th, that he has extended invitations to President of the Presidential Leadership Council, Rashad Al-Alimi, and the head of the Houthi-controlled Supreme Political Council, Mahdi Al-Mashat, for a face-to-face meeting to discus...
Yemeni Prime Minister Ahmed bin Mubarak said on Wednesday that "peace opportunities have diminished" due to the actions of the internationally designated terrorist group Houthi militia, and that the world is now looking with great suspicion at the role that the Houthis could pl...