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Yemen Review section
August 15, 2023
18:57 MIN
June and July 2023
Saudi Arabia Announces US$1.2 Billion in New Financial Support
Long-waited financial support for the government finally materialized after it reached a dire fiscal situation in June and July. On August 1, Saudi Arabia announced it would support the internationally recognized government with a US$1.2 billion grant to finance the public budget and prop up the value of the Yemeni rial. Saudi Ambassador to Yemen Mohammed al-Jaber stated that the first batch of new funds would be released for use on August 2. The next day, the Central Bank of Yemen in Aden (CBY-Aden) announced that Saudi Arabia had deposited 1 billion Saudi Riyals (nearly US$267 million) into its account. High-ranking government officials, including the CBY governor Ahmed Ghaleb and the Minister of Finance Salem bin Breik, said that funds…
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Analysis
April 7, 2022
02:54 MIN
Money Exchangers Eye Windfall from Rial’s Recent Gains
By Wadhah Al-Awlaqi
The value of Yemeni rials increased dramatically today, April 7, following the announcement of US$3 billion in new Saudi and Emirati support for the internationally recognized Yemeni government. However, there are strong signs already from the money market that the rebound will be temporary. Consultations in Riyadh between Yemeni parties to the anti-Houthi coalition and Gulf Cooperation Council states yielded major results in the past 24 hours, with Yemeni President Abdo Rabbu Mansour Hadi replaced by a presidential council and Vice President Ali Mohsen al-Ahmar sacked. Both Saudi Arabia and the United Arab Emirates committed US$1 billion each in new support to the government-controlled Central Bank of Yemen (CBY) in Aden, while Saudi Arabia committed a further US$1 billion in…
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The Yemen Review
January 22, 2018
98:45 MIN
A Year of Hunger and Blood: Yemen at the UN / Special Issue – 2017 in Review
In early 2017 the United Nations (UN) declared that Yemen was enduring the single largest humanitarian crisis in the world. By year’s end, UN agencies estimated that 17.8 million people in Yemen were food insecure and 8.4 million were at risk of famine. Economic and public service collapse left more than 16 million Yemenis without access to safe water and sanitation, and 16.4 million without proper healthcare. All of these factors played into an outbreak of cholera in 2017 that surpassed 1 million suspected cases by December – the largest cholera epidemic ever recorded in a single year. The UN’s 2017 humanitarian appeal for Yemen amounted US$2.3 billion, of which the international community had funded 70.5 percent by year’s end…
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