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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."


President al-Alimi Announces Launch of “Fajr al-Yemen” Operation to Restore State Institutions, Liberate Capital Sana’a
Yemen Scholars’ Association Supports Launch of Operation Yemen Dawn
Yemen Coalition Says 324 High-Value Targets Destroyed in Yemen Dawn Operation
Yemeni Forces Drive Houthis Out of Bab al-Mandab, Encircle Hundreds
Yemeni Armed Forces Liberate Dhubab District After Clashes with Houthi Militias
President al-Alimi Declares Military Operations to Restore State Institutions, Take Control Over Entire National Territory
'MASAM' Removes 1,256 Houthi-Laid Landmines In Four Days
Foreign Minister Praises U.S. Support for Yemeni Government
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President al-Alimi: Militias Started This War, But Armed Forces Will End It in Way Meets Aspirations of Yemeni People

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