Council of Ministers discusses the CBY report about monetary situations

President al-Alimi receives U.S. Ambassador

Chairman of the Presidential Leadership Council Dr. Rashad Mohammed al-Alimi received Sunday, along with Council member Othman Mujalli, U.S. Ambassador Stephen Fagin to discuss the bilateral relations between the two friendly countries, their future prospects and ways to enhance them at various levels.

Death toll in Gaza rises to 48,264 and injuries to 111,688

The death toll in the Gaza Strip has escalated to 48,264 martyrs, and 111,688 injured, predominantly children and women, since the start of the Israeli occupation aggression on October 7, 2023.

QCB's foreign exchange reserves rise 3.81 percent

The Qatar Central Bank's (QCB) international reserves and foreign currency liquidity increased by 3.81 percent in February to 255.916 billion riyals, compared to 246.509 billion riyals in the same month last year.

Monaco draws 1-1 with Toulouse in the French Football League

Monaco tied with its host Toulouse 1-1 in the match that brought them together at the Municipal Stadium (Toulouse), within the 25th round of the French Football League.

Last Update: ، 2025/03/10 Time 03:34:57
Latest News:

Tariq Saleh: We're committed to support teachers, develop Taiz governorate

Prime Minister directs Local Authority in Hodeida to intensify efforts to address citizen's needs

PM: Schooling operation must be resumed

Amb. Faqira meets with Jordanian transport minister

MASAM removes 1058 landmines planted by Houthi terrorist militia during past week

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.