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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."


Presidential Leadership Council reviews national, regional developments
PM receives Chinese Chargé d'Affaires to Yemen
PM, UNOPS discuss projects in basic services
Leadership Council member al-Zubaidi, Spanish Ambassador discuss ways to promote bilateral relations
FM reviews Yemeni and regional developments in meeting with French Ambassador
Maj. Gen. al-Zubaidi: No peace in the region while Houthi terrorism persists in land and sea
Al-Zubaidi calls for joining national, regional, international efforts to secure international shipping lanes
Parliament headship convenes meeting to discuss topical issues
President al-Alimi praises new British support for Yemeni Coast Guard
Maj. General al-Zubaidi, Turkish Ambassador discuss joint cooperation

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