World Bank says Yemen faces significant economic hardships caused by continued Houthi blockade on oil exports

Yemen Participates in Global Population, Health and Development Conference in Cairo

Yemen participated in the 3rd Global Population, Health and Development Conference (PHDC’25) in Cairo, led by Yemen's Ambassador to Egypt, Khaled Bahah.

Bulgaria's Kozloduy Nuclear Plant Partners with 4 Universities to Train Future Staff

Kozloduy Nuclear Power Plant (NPP) - New Builds EAD signed framework agreements with four Bulgarian universities to collaborate on staffing future projects, attended by Energy Minister Zhecho Stankov and Education Minister Krasimir Valchev.

More than 1,500 flights canceled in U.S. amid ongoing government shutdown

Airlines canceled more than 1,500 flights in the United States today, Monday, for the fourth consecutive day, amid continued government flight reductions and the absence of air traffic control staff.

Paris Saint-Germain Claims Top Spot in Ligue 1 After Thrilling Win Over Lyon

Paris Saint-Germain (PSG) secured a hard-fought 3-2 victory over Lyon on Sunday in the twelfth round of the French Ligue 1, taking sole leadership of the league standings.

Last Update: ، 2025/11/12 Time 08:40:57
Latest News:

Yemen Participates in 41st Arab Justice Ministers Council Meeting in Cairo

Yemen Participates in 41st MENAFATF Meeting in Bahrain to Combat Financial Crimes

Prime Minister Discusses Bilateral Cooperation and Developments with UK Ambassador

Prime Minister receives the German Ambassador to Yemen

President al-Alimi Receives Chargé d’Affaires of Chinese Embassy in Yemen

World Bank says Yemen faces significant economic hardships caused by continued Houthi blockade on oil exports

[01/11/2024 05:14]

ADEN - SABA
The World Bank said that Yemen is facing significant economic hardships caused by the continued Houthi blockade on oil exports.

According to the World Bank’s latest Yemen Economic Monitor (YEM) this blockade contributed to a 42 percent drop in fiscal revenues for the Internationally Recognized Government (IRG) in the first half of 2024, preventing it from providing essential services to the population.

The suspension of IRG oil exports, combined with a heavy reliance on imports, has intensified external pressures, leading to a depreciation of the Yemeni Rial in the Aden market from 1,619 per US dollar in January 2024 to 1,917 by the end of August
According to the report, "the conflict has as pushed most Yemenis into poverty, while food insecurity has reached historic levels, with over 60 percent of the population now facing inadequate access to food."