News - Yemen: The Supreme Economic Committee in Sana'a has repeatedly called on the pro-aggression government to neutralize the economy, the Minister of Finance Dr. Rashid Abu Lahoum said, confirming that ignoring its demands has led to the suffering of the citizens today in Yemen’s occupied territories.

Abu Lahoum added that there are many solutions to save the people of Aden, the first of which is for the Bank of Aden to withdraw the excess cash.

He explained that there is a difference between the printed currency and the source for circulation in the market, and the Bank of Aden every period sends hundreds of billions to the market without a cover of foreign exchange.

"We called on the Bank of Aden to stop pumping the new currency into the local market there, but they (the pro-aggression government) deliberately pumped more currency for the purpose of trading in the people's food there,” Minister Abu Lahoum said. "We talked with the ambassadors more than once that facilitating the printing of cash for the pro-aggression government beyond the need of the market would destroy the local currency, but it became clear to us that the one managing the economic collapse is the British in the first place."

Abu Lahoum noted that a bag of wheat today in the occupied areas is approximately 50,000 riyals, and if compared to salaries, it is no longer able to provide only bread for the people of the occupied areas.

Saudi Arabia, backed by the US and its other regional allies, launched a devastating war on Yemen in March 2015. The seven years and half of war has killed hundreds of thousands of people and destroyed much of the country’s infrastructure. Yemeni people are facing malnutrition, hunger, and famine, which have increased risks of disease and starvation.

Occupied southern governorates are witnessing a tragic situation, high crime levels, currency deterioration, and rising prices. They have witnessed protests and sit-ins during the last period, due to the worsening humanitarian and economic conditions.

The deterioration of the local currency, as part of the ongoing economic war waged by the US-Saudi-Emirati aggression and its mercenaries, comes as a result of the pro-Saudi government printing one trillion and 800 billion riyals of illegal currency without a cash cover last year, in addition to its acquisition of all fuel revenues in the southern governorates, and their transfer to a special account with the National Bank in Riyadh.

Media affiliated with the pro-Saudi government confirmed the escalation of withdrawals and depletion of foreign currencies from the market in the occupied areas, especially Aden. News websites affiliated with the Islah Party said that Dozens of what they described as “brokers” are withdrawing the Saudi riyal and the US dollar from exchange shops and from citizens in the occupied governorate of Aden, in exchange for tempting amounts of illegal currency.

It pointed out that the increase offered by these "brokers" to purchase foreign currencies amounts to three thousand riyals above the exchange rate circulating in the market, and stressed that they follow mercenary leaders in Aden.

This information confirms what the Central Bank in Sana’a recently revealed about the resort of mercenary leaders in Marib governorate to drain foreign currency from the governorate’s markets and neighboring governorates, in return for attractive prices of illegal local currency.

The leaders of the pro-aggression government are trying to exchange the money that they collected from corruption and looting of revenues, to its equivalent in foreign currency, in order to facilitate smuggling it abroad, in light of the continuous defeats they suffer in the field.

The Yemeni riyal exchange rates continued to deteriorate significantly against foreign currencies in the occupied governorates, as the exchange rate of one US dollar exceeded the barrier of 1700 riyals, in Aden and Hadramout provinces, while remaining stable at 602 riyals  in governorates under the Salvation Government rule.

 

#Yemen #Economic_Crisis #US-Saudi Aggression #Pro-aggression Government #Occupied Southern Governorates About 2 years