Yemen Monitor / Newsroom:
The British Ambassador to Yemen praised the efforts of the Governor of the Central Bank of Yemen (CBY) and his deputy, emphasizing the vital role they play in safeguarding the bank’s independence and commending their efforts to maintain financial stability in the country.
During a meeting today, the Ambassador affirmed that economic stability and the continuation of reforms represent a top priority at the current stage, alongside the importance of sustained international support to help Yemen face escalating economic challenges.
This comes in conjunction with a briefing delivered yesterday, Wednesday, by the UN Envoy to Yemen, Hans Grundberg, before the Security Council. In his briefing, Grundberg warned of the repercussions of instability on the economic situation, pointing to rising prices, delays in salary payments, and the deterioration of basic services.
Grundberg emphasized that any political or security disruption, even if temporary, would double the pressure on the national currency, deepen the fiscal deficit, and obstruct reform efforts. He stressed the necessity of neutralizing economic institutions—foremost among them the Central Bank—from political and security disputes.
The UN Envoy noted that political, economic, and security challenges are interconnected and cannot be addressed in isolation, requiring that momentum in the economic reform process be maintained in parallel with political efforts.
