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Last Update: ،
2025/04/18
Time
10:25:03
Latest News:
US Treasury imposes sanctions on IBY bank for financing Houthi terrorist militia
Marib Governor's Deputy Meets with WFP Deputy Representative over Food Crisis Response
PM Emphasizes Role of Expatriates in Homeland Development
PM receives Resident Representatives of UNDP in Yemen
Vice Foreign Minister Discusses Developments in Hodeidah Governorate with Deputy Head of UNMHA
Latest News:
US Treasury imposes sanctions on IBY bank for financing Houthi terrorist militia
Marib Governor's Deputy Meets with WFP Deputy Representative over Food Crisis Response
PM Emphasizes Role of Expatriates in Homeland Development
PM receives Resident Representatives of UNDP in Yemen
Vice Foreign Minister Discusses Developments in Hodeidah Governorate with Deputy Head of UNMHA
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."
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."
Key words:
August According - Internationally - According - depreciation - intensified - significant - contributed - insecurity - suspension - inadequate -
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