World Economy
0

Saudi-Led Coalition Strangling Yemen Economy

Saudi-Led Coalition Strangling Yemen EconomySaudi-Led Coalition Strangling Yemen Economy

Yemen’s Central Bank, based in the country’s south, is accusing a Saudi-led coalition of blocking flights bringing cash to the country and “strangling” its economy, AP reported. Governor Mansr al-Qaiti says the blockade deprives Yemen’s internationally-recognized government of the ability to pay salaries for one million civil servants. He says the coalition, which is fighting Shi’ite Houthi rebels to restore al-Qaiti’s government, banned 13 flights carrying cash to the southern port city of Aden since April, “without justification or clear reason.” Sunday’s statement expressed “deep regret for such impediments,” saying they undermine the bank’s daily business and accusing the coalition of “strangling” Yemen’s economy. There are two opposing central banks in Yemen—an internationally recognized one in the southern city of Aden and another in the capital Sanaa in territory run by the government’s foes in the armed Houthi movement. Both suffer from depleted reserves but play a key role in mitigating widespread famine and disease, after two years of fighting, by paying some public sector salaries.

 

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com