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

Minister of Planning Discusses Resumption of Article IV Consultations with IMF

Minister of Planning and International Cooperation Dr. Afrah al-Zouba held Thursday a virtual meeting with the Head of the International Monetary Fund (IMF) Mission to Yemen, Esther Perez Ruiz.

Casualty Toll from Israeli Offensive on Gaza Rises to 72,070 Martyrs, 171,738 Injured

The casualty toll from the Israeli occupation’s offensive on the Gaza Strip since October 7, 2023, has risen to 72,070 martyrs and 171,738 injured, according to the Ministry of Health in Gaza.

Korea large companies' exports rise 10 percent

Large companies' exports in South Korea rose approximately 10 percent year-on-year in the fourth quarter of last year, driven by increased global demand for semiconductors.

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: ، 2026/02/27 Time 02:52:04
Latest News:

Minister of Defense Stresses Activating Oversight, Inspection, Strengthening Intelligence Work

Minister of Transport meets with shipping company agents, Director of UN Envoy Office

Minister of Higher Education Discusses with UNESCO Enhancing Cooperation, Developing Higher Education ..

Supreme Committee for Budgets Approves Draft Budget for 2026

Minister Al-Sharjabi Discusses Water and Environment Projects with UNDP

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."