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

President of the Presidential Leadership Council to European Institute of Peace Delegation: Treating the Houthis as a Normal Actor Is a Structural Error That Threatens to Perpetuate War and Suffering

His Excellency President Dr. Rashad Mohammed al-Alimi, Chairman of the Presidential Leadership Council, affirmed that the Yemeni people aspire to a sustainable, long-term peace that does not bypass the state or reproduce violence once again.

German Chancellor Says Europe Must Stand Strong

German Chancellor Friedrich Merz has called on Europeans to strive for greater autonomy, emphasizing the need for Europe to defend itself using its own capabilities, given the shift in transatlantic relations.

China's foreign exchange reserves rise to $3.3991 trillion

China's total foreign exchange reserves made $3.3991 trillion at the end of last January, marking an increase of $41.2 billion, or 1.23 percent, compared to the end of December last year.

Saudi League: Al-Nassr, Al-Ettifaq and Neom Secure Victories Over Al-Ittihad, Damac and Al-Riyadh

Al-Nassr defeated its guest Al-Ittihad 2–0 in the match that brought them together at Al-Awwal Park Stadium in Riyadh, as part of the 21st round of the Saudi Professional League.

Last Update: ، 2026/02/10 Time 11:43:09
Latest News:

Widespread UN and International Welcome for Formation of New Yemeni Government

Minister Al-Sharjabi Discusses Enhancing Cooperation in Water and Environment Sectors with French Ambassador

Taiz Governor Discusses Enhancing Joint Coordination, Interventions with Rahma Worldwide Foundation

President al-Alimi to European Delegation: Treating Houthis as Normal Actor, Structural Error Threatens ..

Interior Minister Discusses Enhancing Joint Security Cooperation with Saudi Officia

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."