President Al-Alimi holds meeting with the Prime Minister and the Committee for Management of Economic and Humanitarian Crises

  Aden

His Excellency President Dr. Rashad Mohammed Al-Alimi, President of the Presidential Leadership Council, held a meeting today, Thursday, at the Mashiq Presidential Palace in the interim capital, Aden, with the Economic and Humanitarian Crisis Management Committee, chaired by Dr. Ahmed Awad Bin Mubarak, the Prime Minister.

The meeting included Mr. Hossam Abdulhabib Al-Sharjabi, the head of the economic team, Dr. Shai’a Al-Zindani, the Minister of Foreign Affairs and Expatriates, Dr. Abdul Salam Hamid, Minister of Transport, and Dr. Saeed Suleiman AL-Shamasi, Minister of Oil & Minerals. Additionally, the meeting was attended by Dr. Mohammed Omar Banajah, the Central Bank Deputy Governor, Othman Al-Haddi, the Deputy Head of the Economic Team, Mr. Hani Mohammed Wahab, the Deputy Minister of Finance and Captain Nasser Mahmoud Mohammed, the Chairman of the Board of Directors of Yemen Airways.

The attendees were briefed by the Prime Minister on the current economic situation, the necessary measures to control inflation, general budget deficit, and price fluctuations in exchange markets, in addition to essential goods and services.

The briefing included economic, financial, and monetary indicators, as well as recent changes in the national currency in light of the ongoing halt of oil exports and rising shipping costs. Furthermore, the briefing highlighted the catastrophic repercussions on living conditions, which have been further exacerbated by the terrorist attacks of the Iran-backed Houthi militias.

The meeting also listened to a report on the activities of the Crisis Management Committee over the past period, in addition to a presentation on the challenges facing Yemen Airlines due to the continued seizure of a number of the company's aircraft by the Houthi militias, the confiscation of its funds, and the risks such arbitrary practices pose to the national carrier.

The meeting discussed the existing and potential economic and humanitarian scenarios, in addition to the policies and measures needed to eliminate monetary distortions, stabilize exchange rates, and maintain stability in the economy, services, and commodities. The meeting also focused on improving the government's access to public resources, ensuring the continued fulfillment of its imperative obligations, and advancing its comprehensive reforms supported by regional and international communities.

During the meeting, the president of the Presidential Leadership Council urged speedy implementation of the economic rescue plan and adopting a targeted actions and measures to enhance the efficiency of public financial management and monetary policy. His Excellency stressed the need to mitigate the repercussions of the monetary distortion imposed by the Houthi militias as an economic war card.

In this context, the president affirmed full support for the Central Bank and its independence in managing monetary policy. He called on the relevant authorities to fully assume their responsibilities in implementing banking policies, deterring currency speculators, and ensuring strict oversight on the prices of services and essential goods.

His Excellency the President highly appreciated the economic, developmental, and humanitarian support by the brothers in the Coalition to Support Legitimacy, led by the Kingdom of Saudi Arabia and the United Arab Emirates.This support has played a crucial role in enabling the state to fulfill its imperative obligations and in alleviating the humanitarian suffering of the Yemeni people.