Yemen: Collapse of the local currency continues in the occupied governorates, in light of a complete inability to control it.  

The accelerated collapse of the Yemeni riyal price against the dollar and foreign currencies reflects the failure of the pro-aggression government to manage the economic field, despite the emergency and successive measures that it takes from time to time. The price of the riyal, against the dollar, exceeded the barrier of 1500 riyals, which caused a hysterical rise in the prices of goods and foodstuffs.
 
While the pro-aggression government ignores the real reasons behind the collapse of the riyal, it tends to impose unuseful solutions that worsen the economic and living conditions in Aden and the occupied southern governorates. The first of those random steps was throwing the ball into the court of the exchange shops, as the Central Bank of Aden closed most of the money exchange shops in the occupied cities. This step did not succeed at all in curbing the accelerating decline of the Yemeni riyal against foreign currencies there.
 
It does not seem that the justifications offered by the pro-aggression government will succeed in curbing the specter of economic collapse that is hanging over the occupied governorates. The director of the National Bank in Aden says that the results of the battles in Marib and what he described as the confusion in the leadership of the Central Bank in Aden are among the main reasons for the recent collapse of the currency. Justification confirms the desire of those in charge of managing the economy there to avoid the real reasons behind this terrible economic collapse.
 
Observers say that the continued printing of counterfeit currency by the pro-aggression government reflects the unwillingness of this government, most of whose ministers live outside the country, to address the causes of the economic collapse in the cities of the south.
 
On the ground, the collapse of the local currency and the economic collapse were reflected in the poor living conditions of citizens in a large way. The prices of goods and foodstuffs, in Aden and the occupied cities, went hysterically.
   
Maeen Abdul-Malik, head of the pro-aggression government, attributes the reasons behind this economic collapse to what he said are beneficiary political parties, ignoring his government's continued printing of counterfeit currency, the spread of corruption, and the absence of real solutions.
 
In turn, the Saudi-led coalition continues to ignore the collapse of the local currency and the economic collapse that is afflicting the cities of the south. Riyadh, which last week supported Egypt and Pakistan with more than eight billion dollars, is still watching the status quo in the cities run by the pro-aggression government in Aden. It also refuses to deal positively with the distress addressed to it by this government, and even accuses it of incompetence and failure.

 

#Yemen #Economic_Crisis #Aden #US-Saudi Aggression #Pro-aggression Government About 2 years