President Al-Alimi Reviews Latest Economic Developments and Potential Implications of IMF Decision

  Riyadh

His Excellency President Dr. Rashad Mohammed Al-Alimi, President of the Presidential Leadership Council, held a telephone call with Mr. Ahmed Ghaleb, the Governor of the Central Bank of Yemen, to review the latest economic and monetary developments. They also discussed the potential repercussions of the International Monetary Fund’s decision to suspend its activities in Yemen, following unilateral measures taken by the Southern Transitional Council in the eastern governorates.

A source in the Office of the Presidency stated that the President was briefed by the Central Bank Governor on the level of implementation of the Presidential Leadership Council’s decisions and recommendations aimed at addressing existing imbalances in the collection of public revenues into the government’s account at the Central Bank. The briefing also covered key financial and monetary indicators, and the measures required to contain the repercussions of the IMF decision on the gains achieved in stabilizing the national currency, ensuring the flow of fuel and commodities, and improving basic services.

During the call, the President also discussed the good offices of the Coalition to Support Legitimacy, led by the Kingdom of Saudi Arabia and the United Arab Emirates, aimed at de-escalation and restoring normal conditions in Hadhramaut and Al-Mahra governorates. In this context, he commended the support provided by the Kingdom to the state budget, the strengthening of resilience and cohesion of state institutions, and its continued fulfillment of its essential obligations toward citizens.

The President further addressed the repercussions of the current crisis on the political and economic situation, considering the IMF’s announcement to suspend its activities in Yemen as a wake-up call underscoring that political stability is a fundamental prerequisite for the success of any economic reforms in the country.

The source added that the President reiterated that the immediate withdrawal of all forces arriving from outside Hadhramaut and Al-Mahra is the only option to restore normalcy in the eastern governorates, revive the path of development and recovery, and rebuild confidence with the donor community.

The presidential source also said that President Al-Alimi stressed that the foremost priority, under all circumstances, must remain the battle to restore state institutions, overthrow the coup, and build an economy capable of serving the people. Anything beyond that, he noted, constitutes further waste and internal depletion that serves only Yemen’s enemies and harms the interests of the country and its people. It also undermines Yemen’s national interests, legitimate aspirations, and just causes—foremost among them the Southern Cause, which has become an integral part of a comprehensive solution within any forthcoming political settlement as a collective national and moral commitment.