“Saudi Arabia” deals a resounding slap to the “Yemeni government” and the “transitional”

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Today, Monday, economists considered that the Kingdom of Saudi Arabia has dealt a resounding slap to the recognized Yemeni government, despite the latter’s repeated calls for the necessity of providing urgent support to the national economy, and limiting the collapse of the riyal against foreign currencies.

Economists explained to “The Yemeni Scene” that Riyadh’s announcement of depositing three billion dollars in the Central Bank of Egypt, a week after a similar deposit of three billion dollars in the Central Bank of Pakistan, represented a resounding slap to the Yemeni government formed based on the Riyadh agreement.

The economists called on the president and members of the government and the governor of the Central Bank of Yemen in Aden, to quickly review their positions, and start taking urgent measures to curb the collapse of the Yemeni riyal, restore the cash cycle and pay salaries.

And high-ranking sources revealed that the recognized Yemeni government and the Kingdom of Saudi Arabia had reached understandings to deposit at least $2 billion in the Central Bank of Yemen in Aden.

The sources indicated that Saudi Arabia stipulated the Yemeni government’s commitment to collecting resources, transparency in deposit disbursement processes, and fighting corruption.

In the same context, Saudi Arabia agreed to pump 120 million dollars into the Yemeni market, which is the remaining amount of the Saudi deposit of 2 billion dollars, during the past days, to support basic foodstuffs, after stopping it since March 2020.

Economists expected that the Yemeni riyal exchange rate will witness an improvement in the coming days, against foreign currencies, reaching 800 riyals to the dollar, after it exceeded 1400 riyals to the dollar.



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