Yemen Monitor / Newsroom:
The Yemeni government on Wednesday warned of an imminent economic and humanitarian catastrophe amid a rapidly deteriorating national currency and worsening living conditions. It called on the Arab Coalition, particularly Saudi Arabia and the United Arab Emirates, as well as the international community, to provide immediate financial assistance to prevent a full-scale collapse.
The warning came during the Cabinet’s regular session held in the temporary capital, Aden, chaired by Prime Minister Salem bin Bureik. The government discussed the latest economic and service-related developments, especially the sharp depreciation of the Yemeni rial, which has fallen to nearly 2,900 rials per U.S. dollar — a drop that has severely impacted the prices of basic goods and the daily lives of citizens.
According to the official Yemeni News Agency, the Cabinet reviewed emergency measures being taken to contain the crisis. These include coordination with the Central Bank of Yemen to regulate the currency market, intensify oversight of exchange companies and money changers, and implement strict steps to curb currency speculation and restore balance to the foreign exchange market.
The meeting also addressed escalating service-related challenges, particularly the electricity crisis, and ongoing efforts to improve public services despite limited resources and declining foreign aid.
On the security and political front, the Cabinet discussed the increasing Houthi threats to international shipping, with the Prime Minister warning of the serious implications of recent attacks that targeted commercial vessels and resulted in the deaths of civilian sailors. He highlighted the global risks these actions pose to maritime security.
Prime Minister Bin Bureik stressed that the government, in coordination with the Presidential Leadership Council, continues to confront Houthi sabotage plans and intensify efforts to restore state authority. He referred to recent consultations with EU representatives and ambassadors from several countries, which reflected clear international support for Yemen’s economic and political reform path.
He directed ministries and government institutions to update their plans in line with the current situation — particularly in view of international discussions about reclassifying the Houthi group as a foreign terrorist organization. He emphasized the need to focus on improving public services and tightening control over public resources.
The Cabinet also reviewed a series of proposals and recommendations in preparation for submission to the Crisis Management Committee, headed by Presidential Council President Rashad al-Alimi, as part of broader efforts to counter what was described as a “systematic economic war” waged by the Houthis against the Yemeni people.
