Source: Prime Minister’s Office
On Wednesday, Prime Minister Dr. Ahmed Awad bin Mubarak met in the temporary capital Aden with the leadership of the Central Bank of Yemen to follow up on the interventions implemented to control the exchange rates of the national currency, and the measures needed to restore normalcy, halt speculation, and crackdown on manipulators.
During the meeting held at the Central Bank headquarters, the Prime Minister listened to a comprehensive briefing from the Deputy Governor, deputies, and heads of specialized sectors regarding the monetary situation, liquidity indicators, money supply, price levels, the state of foreign reserves, developments in public finance on both the revenue and expenditure sides, the size of the deficit, and its financing mechanisms. Additionally, they discussed the urgent measures taken in light of recent developments to limit currency speculation, the relative decline achieved, and the future steps to enhance this.
The meeting approved several measures and interventions at the level of monetary and fiscal policies, as part of integrated work aimed at achieving stability in the currency exchange rate, controlling prices, and restoring balance to the overall economic system.
The Prime Minister reiterated the government’s commitment to enhancing coordination between fiscal and monetary policy to reflect on achieving economic stability and alleviating the living hardships of citizens, affirming the government’s support for the work, efforts, and independence of the Central Bank in accordance with prevailing laws and regulations.
Dr. Ahmed Awad bin Mubarak emphasized that the unjustified drop in the national currency’s exchange rate should be treated as a battle equal in importance to the ongoing military battle to complete the restoration of the state and end the coup, necessitating everyone to deal with it on this basis. He said, “The financial and monetary assessments clearly indicate that the drop in exchange rates, especially over the past two days, is neither justified nor logical and does not correspond with the circulating monetary mass, suggesting that what happened was not spontaneous and points to a deliberate plan we are called to unite against.”
The Prime Minister stressed that the responsibility is collective, and efforts must be united between the government and the Central Bank of Yemen to put an end to this tampering with the livelihoods of citizens, as the citizen can no longer bear any additional burdens in living expenses.
