report
International Efforts to Revive Central Bank of Yemen and to Pay Salaries
[su_label type=”info”]SAMA News – Reports [/su_label][su_spacer size=”10″][su_label type=”info”]Amman – SMA – PIC[/su_label][/su_spacer]
UN delegate to Yemen, Ismail Wald Al-Sheikh Ahmed indicated that international efforts are being exerted to revive the central bank of Yemen and to revitalize Yemen’s economic system as these efforts may lead to paying employees’ salaries, stopped for a whole year now. In a memorandum issued to the Security Council about situations in Yemen, Ahmed indicated that the use of scares national revenues to finance war leads to a halt in paying salaries that millions of Yemeni citizens depend on for their living. Conflict in Yemen is producing a tragic situation in everyday life. Especially with this economic shrink.
The Central Bank of Yemen is still inactive since being transferred to its new headquarters in September 18th 2016. The bank stopped paying employees’ salaries or providing food products and Fuel importers with letters of credit. This led the commercial sector to fully stop. Al-Houthi militias kept the branch of Sanaa under their control while refusing to activate the branch of Adan. This paralyzed the banking sector as a whole. Recently, the Yemeni government reactivated several branches in several liberated cities including Al-Makla, capital of Hadhramaut, Shabwa governorate and Taez.
UN delegate referred to the human suffering as more than 17 million persons don’t have sufficient food supplies and nearly one third of the country governorate are in danger of mass starvation. Collapse of infrastructure led to Cholera break-out in the worst epidemic break-out in modern history. He also praised the efforts of the World Bank and UNICEF in mediating the effects of economic crisis as he assured that the first share of monetary aids for the neediest families was paid last August and the revenues of this 400-million US Dollar fund will reach for all beneficiaries in a few weeks or months.
Deactivation of the central bank in the midst of this tragic war led to horrific human crisis as UN indicated that by the end of last August, nearly 8 million citizens lost their income due to the war. UN developmental program indicated in its statement that “armed conflict in Yemen since 2015 led to unprecedent increase in chronic poverty in a state that was already the poorest in the Arab region”.
UN delegate to Yemen, Ismail Wald Al-Sheikh Ahmed indicated that international efforts are being exerted to revive the central bank of Yemen and to revitalize Yemen’s economic system as these efforts may lead to paying employees’ salaries, stopped for a whole year now. In a memorandum issued to the Security Council about situations in Yemen, Ahmed indicated that the use of scares national revenues to finance war leads to a halt in paying salaries that millions of Yemeni citizens depend on for their living. Conflict in Yemen is producing a tragic situation in everyday life. Especially with this economic shrink.
The Central Bank of Yemen is still inactive since being transferred to its new headquarters in September 18th 2016. The bank stopped paying employees’ salaries or providing food products and Fuel importers with letters of credit. This led the commercial sector to fully stop. Al-Houthi militias kept the branch of Sanaa under their control while refusing to activate the branch of Adan. This paralyzed the banking sector as a whole. Recently, the Yemeni government reactivated several branches in several liberated cities including Al-Makla, capital of Hadhramaut, Shabwa governorate and Taez.
UN delegate referred to the human suffering as more than 17 million persons don’t have sufficient food supplies and nearly one third of the country governorate are in danger of mass starvation. Collapse of infrastructure led to Cholera break-out in the worst epidemic break-out in modern history. He also praised the efforts of the World Bank and UNICEF in mediating the effects of economic crisis as he assured that the first share of monetary aids for the neediest families was paid last August and the revenues of this 400-million US Dollar fund will reach for all beneficiaries in a few weeks or months.
Deactivation of the central bank in the midst of this tragic war led to horrific human crisis as UN indicated that by the end of last August, nearly 8 million citizens lost their income due to the war. UN developmental program indicated in its statement that “armed conflict in Yemen since 2015 led to unprecedent increase in chronic poverty in a state that was already the poorest in the Arab region”.
