Economist talking about “disaster” in Yemen over this

YemenExtra

Y.A

The Yemeni government, loyal to the Saudi-led coalition, backed by the US, continues to print large sums of money which leadsto the collapse of the riyal. On Thursday, new quantities of printed local currency arrived.

According to media sources loyal to the coalition revealed the arrival of seven containers to the port of Aden,  on which 147 billion Yemeni riyals of the recently printed currency”.

Commenting on the new printing process , an economist said in a statement to YemenExtra that “while Khalid al-Yamani brags falsely of their desire to solve the problems of the economic file ,what they say they are doing everything possible to manage monetary policy and return the price of the riyal, what he said they stopped printing the currency over being inflationary and leading  to the collapse of the riyal, and what they added that Hadi’s bank repented of its economic war and currency war, but we were surprised of news of the arrival of 147 billion riyals of a new edition to Hadi’s bank”.

He explained that this confirms that the government of Hadi “is going through the currency war and the destruction of the value of the Yemeni riyal, and this printed money will create a shock to the exchange rate and flood the cash market withuncovered and unnecessary currencies .”

He pointed out that printing new sums of money by the paid fighters  proves that the paid fighters don’t intend to neutralize the work of the Central Bank, and what they refused and intransigence in the consultations of Sweden to all what is raised by the delegation of Sana’a, despite all the concessions except the agenda ,was plots which appeared today as that  their destruction of the currency they created is insufficient and must be increased . “

In March 2015, the US -backed –Saudi-led coalition started  a war against Yemen with the declared aim of crushing the Houthi Ansarullah movement, who had taken over from the staunch Riyadh ally and fugitive former president Abd Rabbuh Mansur Hadi, while also seeking to secure the Saudi border with its southern neighbor. Three years and over 60,000 dead and injured Yemeni people and  prevented the patients from travelling abroad for treatment and blocked the entry of medicine into the war-torn country, the war has yielded little to that effect.

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