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Last Update: ،
2026/07/26
Time
05:33:19
Latest News:
President al-Alimi Warns Houthis Against Continued Escalation
Al-Aradah Urges Higher Military Readiness to Defend the Republic
UN Chief Voices Concern Over Renewed Houthi Attacks on Commercial Shipping in the Red Sea
IMO Secretary-General Condemns Houthi Attacks as Threat to International Shipping
Yemeni Ambassador Says Houthi Attacks Serve Iran's Regional Agenda
Latest News:
President al-Alimi Warns Houthis Against Continued Escalation
Al-Aradah Urges Higher Military Readiness to Defend the Republic
UN Chief Voices Concern Over Renewed Houthi Attacks on Commercial Shipping in the Red Sea
IMO Secretary-General Condemns Houthi Attacks as Threat to International Shipping
Yemeni Ambassador Says Houthi Attacks Serve Iran's Regional Agenda
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."
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."
Key words:
August According - Internationally - According - depreciation - intensified - significant - contributed - insecurity - suspension - inadequate -
President al-Alimi Warns Houthis Against Continued Escalation
Al-Aradah Urges Higher Military Readiness to Defend the Republic
UN Chief Voices Concern Over Renewed Houthi Attacks on Commercial Shipping in the Red Sea
IMO Secretary-General Condemns Houthi Attacks as Threat to International Shipping
Yemeni Ambassador Says Houthi Attacks Serve Iran's Regional Agenda
Presidential Decisions Bring Historic Gains for Yemeni Women
Yemeni Ambassador, Chinese Official Discuss Houthi Threats to International Shipping
Republican Decree About Limited Cabinet Reshuffle in Dr. Shaya Zindani's Government
European Union: Houthi Militias Attack on Saudi Oil Tanker Unacceptable, Illegal
Qatar Strongly Condemns Houthi Militias Targeting Saudi Ship, Describing It Threat to Global Energy Security
