CBY Governor: Yemen has lost more than $6 billion within the recent 30 months

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CBY Governor: Yemen has lost more than $6 billion within the recent 30 months

[24/10/2024 05:04]

WASHINGTON - SABA
The Governor of the Central Bank of Yemen (CBY) Ahmed Ghaleb has confirmed that Yemen has lost more than six billion dollars of its own resources during the previous thirty months only, as a result of the suspension of oil and gas exports due to the attacks of the Houthi terrorist militias on oil ports and tankers, adding to targeting international navigation in the Red Sea.

"As a result, costs of transportation and insurance redoubled, supply chain disrupted, food insecurity seriouslt deteriorated and poverty rates exceeded 80%", Ghalib said.

He made his statements as he contributed today, Thursday, to the meeting of central bank governors and finance ministers of the Middle East, North Africa and Pakistan, on the sidelines of the annual meetings of the IMF and the World Bank, held in Washington, DC.

Minister of Finance Salem bin Braik also contributed to the meeting's deliberations.

The meeting was chaired by the Managing Director of the IFM Ms. Kristalina Georgieva.

Ghalib touched on the unprecedented humanitarian crisis that Yemen has been experiencing as a result of the Iran-backed Houthi militias' coup and war, which has been going on for 11 years and due to unfavorable regional and international developments and their repercussions on the region and the world, including Yemen.

The Governor of the CBY called for an urgent support to Yemen to bail out the Yemeni national economy and sustain the government's efforts to manage the economic hardships.