Yemen Calls for International Support to Rebuild Housing Sector
The Yemeni government has urged the international community to provide support to rebuild the country's housing sector, which has been severely damaged by the ongoing conflict.
Gaza Death Toll Rises to 54,381 Amid Ongoing Israeli Aggression
GAZA-SABA The death toll from the Israeli aggression on the Gaza Strip since October 2023 has risen to 54,381, with 124,054 injured, according to medical sources.
U.S. President plans to increase tariffs on steel, aluminum imports
U.S. President Donald Trump confirmed his intention to increase tariffs on foreign imports of steel and aluminum from 25% to 50%, which will increase pressure on steel producers worldwide and threaten to escalate his trade war.
Napoli Wins Serie A Title for Fourth Time
Napoli won the Serie A title for the fourth time in its history, after defeating Cagliari 2-0 in the 38th and final round of the competition.
User Name: Password:
Zemmam: We're waiting for deposits worth $3 billion, exchange rates recovery to be sustainable
[01/12/2018 04:50]

RIYADH-SABA
Governor of the Central Bank of Yemen (CYB) Dr Mohammed Zemmam said" The CYB was waiting for deposits totaling $3 billion and we're working on this issue".

In statement to the Yemeni News Agency (Saba) he stated that the CYB is going to take several decisions to keep on the improvement of national currency exchange rate and there are a bunch of decisions will be taken by the UN or some countries regarding the new deposits.

He stated that recovery will be stable and sustainable provided that some measures must be taken inside and outside the country with the government start to work out the 2019 state's budget.

Dr Zemmam held a meeting Saturday in Riyadh with the Assistant of the UN Secretary General for Humanitarian Affairs Marck Lowckock and the Resident Representative of the UN in Yemen Lise Grande.

The session devoted to discus fiscal and Monterey situation in Yemen.

Discussions touched upon practical steps have been made by the CYB, mainly open letter of credits for all basic commodities and the approvals of withdrawing some $300 million from the Saudi deposit, largest portion has already been transferred to the banks and the remain part is in progress to be transferred.

Zemmam has confirmed that improvement in the value of Yemeni Rial (YR) has been a result of speculations but rather because of measures taken by the CYB reviving monetary and liquidity management so that all amounts of banknotes are being printed now go the reserves. " We have got a reserves totaling 500 billion (YR), we presently pay pensions for all pensioners in Yemen, we'll start paying pensioners in Sana'a next week", said Zemmam.

He added" It is agreed to consider transferring all amounts through the UN and other countries via the CYB to boost the CYB's reserves to help sustaining the (YR) which is now fairly valued".

The Governor of CYB indicated that he is going to meet similar meetings with the Eyptian, Saudi, Emirati and American sides.





Yemen Calls for International Support to Rebuild Housing Sector
President al-Alimi meets with Arab Ambassadors to Russia
Vice Foreign Minister receives copy of credentials of the Somali Ambassador
Leadership Council Chairman Warns of Iranian Expansion at Institute of Oriental Studies
Chairman of Leadership Council Honors Russian Scholar with Medal of Merit
Ambassador Fakirah Meets with Jordanian Official to Discuss Bilateral Relations
Baggash praises China's support for Yemen
President Putin hosts a lunch in honor of Chairman of Presidential Leadership Council
Minister of Planning Meets with EU Ambassadors to Discuss UNDP Country Program
Tariq Saleh Discusses Cooperation with EU Ambassadors

About Saba News Agency | Usage Agreement | Contact Us