Al-Alimi calls for the supply of international financing through the Central Bank of Yemen to support the local currency

Yemen Monitor/News Room

Chairman of the Presidential Leadership Council in Yemen, Rashad al-Alimi, stressed on Sunday the importance of supplying all approved international funding through the Central Bank of Yemen, in order to strengthen and enhance the position of the currency, which has collapsed to an unprecedented level for the first time since the formation of the council.

This came during his meeting with the British Ambassador to Yemen, Emily Howden, according to the official Yemeni news agency, Saba.

According to the agency, the meeting discussed the latest political developments, the support required from the United Kingdom, efforts to combat terrorism and arms smuggling, and support for the Yemeni Coast Guard.

The meeting also discussed British support for the Yemeni Coast Guard, joint efforts to combat terrorism, arms smuggling, drugs, and organized crime (..).

The agency added that the meeting touched on the ongoing catastrophic repercussions of the Houthi attacks on oil facilities, and the role required from the international community to alleviate the worsening humanitarian suffering as a result of the Houthis’ piracy and attacks on merchant ships and international shipping lanes.

Al-Alimi expressed his hope for further British support that commensurate with the growing humanitarian and service commitments.

During the past few days, the Yemeni Riyal has recorded a significant decline against the Dollar and hard currencies to exceed 1755 Riyals per Dollar in Aden and the southern and eastern provinces of the country under the control of the internationally recognized government.

This is the lowest value recorded by the local currency since the announcement of the transfer of power and the formation of the Presidential Leadership Council in April 2022.

The Yemeni government has previously announced a number of measures to address the currency crisis, but it is facing difficulty in stopping the continuous deterioration.