Yemen`s Central Bank approves of withdrawal from Saudi deposit for the 13th installment

Aden (Debriefer)
2019-01-07 | Since 5 Year

اضغط هنا لقراءة الخبر بالعربية

Yemen's central bank announced on Monday the arrival of the approval to withdraw from the Saudi deposit for the 13th batch of 56 million and 700,000 dollars, earmarked for a number of commodity dealers. representing the 13th installment, for a number of traders to import commodities and basic materials. 
It explained that the withdrawal procedures at all stages do not take more than 15 days until the funds arrive at the correspondent banks and that the central bank implements those procedures without calculating any fees. 
Noting that the deposit was intended to finance essential items for all traders without exception and that the prices were fixed at the exchange rates of the year 2018. 
At the beginning of last December, the Central Bank of Yemen set the official exchange rate of the dollar with 440 for one dollar. 
On 20 December, the bank was expecting deposits of US$ 3 billion from Kuwait and United Arab Emirates, a step would contribute to enhancing local currency value, Yemeni rial. 
If confirmed, such deposits would be added to more than three billion dollars deposited by Saudi Arabia into the CBY, as well as $200-million grant promised by the Kingdom early last October to shore up the bank's financial position and revive Yemeni economy. 
The IMF stated mid-last December that scarcity of foreign money in Yemen, resulted from oil exports suspension, restricted availability of basic goods. 
Yemen imports more than %90 of its food needs, including most requirements of wheat and all rice. 
Yemen, already the Arab world's poorest country, is facing the world's worst humanitarian crisis, according to the UN, with more than 22 million people (more than two thirds of the population) are in need for a type of humanitarian aid and immediate protection, including 8.4 million people unsure how to get next meal, and some 2 million children suffering severe shortage of nutrition. 
This comes amid a persistently fierce war between the internationally recognized Yemeni government's forces, backed by a Saudi-led coalition, and the Iran-backed Houthi troops. 
Having been escalated after the Saudi-led coalition intervened militarily in the country in March 2015, The conflict has left nearly 16,000 people dead, hundreds of thousands injured, 3 million displaced and made other thousands to flee the country.

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