It has become clear that the repercussions of the catastrophic and accelerating economic collapse in Yemen are more horrific than the war itself, which has been going on for seven years, which calls for an urgent stand by the international community to avoid this, and to bring this file to the fore as one of the most urgent responsibilities to deal with.
With the existing division in monetary and fiscal policy since the decision to transfer the Central Bank of Yemen from Sana’a to Aden in 2016, and the great disparity in exchange rates between the areas controlled by the government and the Houthi group, with the absence of a unified monetary authority, the great burden is placed on merchants and citizens in the first place.
This impasse accompanied by paralysis, economic downturn, and the boom of the war economy, at the expense of the real economy, and the duplication of customs and tax authorities, and the double and huge prices that the citizen bears with the high and escalating inflation, necessarily leads to the growth of incentives for more social unrest, which complicates the chances of any political solution.
Interestingly, all UN reports warn of the seriousness of the economic situation and what the continued depreciation of the Yemeni riyal and the rise in prices could lead to exacerbating the state of hunger in Yemen, where about 16.2 million people face food insecurity this year, but it is noticeable that the economic file in the mediation rounds International and international discussions with the parties to the conflict are completely absent from the scene.
Therefore, far from reviewing the catastrophic figures for the economic and living situation in Yemen, which are known to all, it is necessary to sound a last warning bell in front of all those who care about Yemen. What you are going to.
I present here an appeal, invitation and initiative to save the economy and the living situation of the Yemeni citizen before any talk about stopping the war. An enemy of the Yemeni people.
There is no more time or luxury to take this step, as every day passes without finding urgent solutions to save the Yemeni economy and curb the deterioration of the national currency exchange rate. .
There are many commonalities that can be put forward in finding an urgent initiative to save the Yemeni economy upon which the parties to the conflict agree. I am confident that Yemen’s partners, including the brothers in the Gulf states and international friends, will pay the necessary attention to this initiative, as it is a common interest for all, not just the Yemeni people. Businessmen, the private sector and the unions of chambers of commerce join our voices to demand an immediate direction towards solving the economic file quickly, and for the political and military file to take the extent it needs.
We are fully prepared to sit with the UN and US envoys, with the real participation of businessmen and chambers of commerce, away from political bias or support for one of the parties to the conflict, to exchange ideas and visions to formulate and discuss the initiative and to obtain international support for it, but I repeat that we do not have the luxury of time to move in this side.