World Bank says Yemen faces significant economic hardships caused by continued Houthi blockade on oil exports

Tariq Saleh discusses with French Ambassador efforts to stabilize, secure international navigation

Member of the Presidential Leadership Council Tariq Saleh received Tuesday Ambassador of the French Republic, Catherine Corm Cammoun.

Massive 7.0 Magnitude Earthquake Strikes Alaska, USA

A powerful 7.0 magnitude earthquake struck Alaska, USA, yesterday evening, according to the United States Geological Survey (USGS).

S. Korea's ITC exports rise 12.4 percent in 2025

South Korea's exports in the information and communication technology (ICT) industry rose 12.4 percent to a record high in 2025, due to strong demand from the artificial intelligence industry.

Morocco and Senegal qualify for the semi-finals of the Africa Cup of Nations

The Moroccan national team qualified for the semi-finals of the Africa Cup of Nations after defeating Cameroon 2-0 in their match at Prince Moulay Abdellah Stadium in the Moroccan capital, Rabat.

Last Update: ، 2026/01/20 Time 10:19:38
Latest News:

Ambassador Bahumaid discusses with Vietnamese Foreign Ministry official latest developments in Yemen

Meeting in Marib Discusses Enhancing the Impact of Humanitarian Interventions in the Agricultural Sector ..

Saudi Cabinet Follows Up on Efforts to End Yemen Crisis and Discusses Future of the Southern Issue

Prime Minister Discusses Bilateral Relations and Yemen's Developments with French Ambassador

Deputy Minister of Industry and Trade Discusses Export Development with International Partners

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."