Baggash Seeks Vietnamese Academic Cooperation
The Undersecretary of the Ministry of Foreign Affairs and Expatriates for Politcal Affairs Dr. Mansour Baggash held discussions today, Friday, with the Vietnamese Deputy Minister of Education and Training Nguyen Van Phuc over bilateral cooperation in the field of the academic, education and training.
Gaza Death Toll Rises to 55,297 Amid Ongoing Israeli Aggression
The death toll from the Israeli genocidal war on the Gaza Strip since October 7, 2023, has risen to 55,297, with 128,426 injured, the Ministry of Health in afflicted Palestinian enclave said. The majority of the victims are women and children.
Italian GDP rises 0.3 percent
The Bank of Italy (the central bank) announced that the country's GDP grew by 0.3 percent in the first quarter of 2025 compared to the previous quarter, driven by an increase in consumption and investment, in addition to limited American demand.
Saudi Al-Hilal FC Eliminated from FIFA Club World Cup After 2-1 Defeat to Fluminense
Saudi Al-Hilal FC has been eliminated from the 2025 FIFA Club World Cup after suffering a 2-1 defeat to Fluminense FC from Brazil in the quarterfinals. The match was held at the Camping World Stadium in Orlando, Florida.
User Name: Password:
Council of Ministers discusses the CBY report about monetary situations
[01/11/2018 06:22]

Council of Ministers discusses the CBY report about monetary situations
ADEN-SABA
Council of Ministers held its first meeting Thursday presided over by Prime Minister Dr Ma'een Abdulmali n the temporary capital Aden.

The meeting devoted to discuss the report by the Central Bank of Yemen (CBY), government's action-plans to handle economic situations, improve services and reconstruct what have been damaged by war and natural disasters.

The Prime Minister stressed the need for practically asserting the role of the government on the ground.

He stated that government's top priority is managing the economic challenges by bringing relative economic stability in light of the donations provided by Saudi-Led Arab Coalition.

He described the procedures adopted to stop the slide of national currency as insufficient as the variation between exchange rate of Yemeni Rial (YR) offered by the CBY and its price in the market against the foreign currencies is 170 (YR) an approximately %28 of the value of currency.

The Prime Minister stated that the government is going to work in forthcoming period on resuming oil production, refining and exporting from new oil fields.

The Governor of the CBY provided a detailed report about the fiscal and monetary situations from January through September including total amounts of revenues, expenditures and deficit.

He stated that the CBY has decided that the government must stop overdrafts withdrawing from the beginning of January 2019.

He also informed the Cabinet of Ministers about the CBY decision to establish monetary reserves of national currency totaling five hundreds billions (YR) by the end of 2018 and directing all amounts of banknotes which printed recently to the reserves of currencies, never be used except under clear monetary policy.

The Cabinet of Ministers has approved the CBY recommendation about withdrawing on overdrafts and authorized Finance Ministry and Economic Committee to work out a mechanism for monthly reducing withdrawing on overdrafts.

The Council of Ministers heard a report by the Ministerial Committee tasked with reporting about damages caused by Luban tropical storm in Al-Maharah.

The Committee estimated the total cost of the damages at $1 billion.

The Cabinet has approved the Ministerial Committee's recommendation about establishing Executive Unit tasked with handling the natural disaster's damages.


Yemen's Ambassadors to Czech Republic, Indonesia swear-in before President al-Alimi
Yemen and Vietnam Sign Memorandum of Understanding to Enhance Bilateral Cooperation
Judge Sahl Hamza swears-in before President al-Alimi
Cabinet Discusses Economic and Financial Developments, and Efforts to Foil Houthi Plots
Al-Maharami discusses ways to enhance bilateral relations with Japanese Ambassador
Yemen's Presidential Council Member Meets with French Ambassador to Discuss Political and Economic Developments
Human Rights Ministry Launches National Campaign to Prevent Child Soldier Recruitment
Ba'akr, Syrian official discuss promoting bilateral cooperation
Governor of Central Bank discusses financial, economic developments with Japanese Ambassador
President al-Alimi Receives Credentials of Japanese, Sudanese, Vietnamese Ambassadors

About Saba News Agency | Usage Agreement | Contact Us