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This page is the English version of Almasirah Media Network website and it focuses on delivering all leading News and developments in Yemen, the Middle East and the world. In the eara of misinformation imposed by the main stream media in the Middle East and abroad, Almasirah Media Network strives towards promoting knowledge, principle values and justice, among all societies and cultures in the world

Pro-Saudi Government Admits Collapse of Yemen’s Currency in Its Areas of Control

Yemen: The pro-aggression government obtained loans and aid amounting to one billion and 300 million dollars last December, but this did not prevent the Yemen’s riyal from recording more collapse in the areas controlled by the US-Saudi coalition.

 

What is new in terms of the issue of the collapse of the Yemeni riyal, came recently during a meeting of the so-called presidential council, last Saturday, where the council surprisingly decided “to form a crisis cell headed by the Prime Minister and the membership of a number of relevant ministers and the governor of the Central Bank to follow up on economic, financial and monetary developments and take immediate measures to limit the collapse of the currency,” which is the first time that the council has discussed since its appointment in place of Abd Rabbo Hadi, last April.

There is a firm conviction among citizens that the crisis of local deterioration is a fabricated crisis, as evidenced by the lack of seriousness in taking the necessary remedies to solve the problem, and providing marginal measures with the aim of “scattering dust on the eyes” and leaving the root causes of the crisis without any solutions.

Harmful actions for fabricated crises

The people of Yemen have not forgotten the flimsy justifications on the basis of which two trillion riyals of the Yemen’s currency were printed by the coalition, which claimed “lack of liquidity” because people belonging to factions loyal to the UAE “hid the liquidity.”

Although these figures have been exposed, the authorities affiliated with the coalition, instead of arresting the accused, criminals went to print the currency without any cover so that the Yemen’s riyal lost its value against foreign currencies. 

The UAE Agents Council recognized, during its discussions recently, some aspects of the problem by talking about “stopping speculation and depleting reserves of hard currencies.” These issues appear, from the point of view of observers, to be greater than the capabilities of the “government” loyal to the coalition, as Riyadh and Abu Dhabi worked to weaken the “government.” In the occupied areas, in favor of the factions established by the coalition. 

It should be noted that the exchange rates of one US dollar today reached 1245 Yemeni riyals in the areas controlled by the coalition.

 

Source: YPA translated by Almasirah English website

 

#US_Saudi_Aggression #Economic_Crisis About 1 year
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This page is the English version of Almasirah Media Network website and it focuses on delivering all leading News and developments in Yemen, the Middle East and the world. In the eara of misinformation imposed by the main stream media in the Middle East and abroad, Almasirah Media Network strives towards promoting knowledge, principle values and justice, among all societies and cultures in the world

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