Yemen Monitor / Newsroom:
The Yemeni Presidential Leadership Council continued its discussions today, Wednesday, on the country’s economic situation during a meeting held in the Saudi capital, Riyadh. The meeting was chaired by President Dr. Rashad Mohammed Al-Alimi, with the participation of council members and a number of government officials.
The meeting, which included Prime Minister Salem bin Buraik and Central Bank Governor Ahmed Ghaleb, was dedicated to reviewing the progress made in implementing economic reforms, following up on previous decisions related to the recovery plan and support for the stability of the national currency, as well as discussing mechanisms to enhance domestic and external resources and strengthen donor confidence.
During the discussions, the council praised the relative improvement in the national currency’s exchange rate and the stability of basic commodity prices, along with the financial and administrative discipline that has contributed to controlling public spending and improving banking performance.
In a new step to reinforce these gains, the council approved a package of executive measures aimed at supporting the reform process. The most notable of these are tighter oversight of land, sea, and air ports; expanding the electronic integration of sovereign revenues; and increasing the efficiency of government spending across various sectors.
The council also stressed the importance of empowering the Central Bank with full tools to manage monetary policy and combat speculation that undermines currency stability, while emphasizing the need for coordination among government institutions to expedite the implementation of the reform matrix.
The Presidential Council expressed appreciation for the continued support of the Kingdom of Saudi Arabia and the United Arab Emirates in stabilizing the economy and alleviating the humanitarian crisis. It also noted the importance of the International Monetary Fund resuming its activities in Yemen after more than a decade of suspension.
The meeting also addressed several administrative and oversight issues, including the unification of revenues and the enhancement of institutional performance efficiency. The council adopted a series of measures and recommendations to ensure their implementation in coordination with local authorities and relevant entities.
