Zemmam: We're waiting for deposits worth $3 billion, exchange rates recovery to be sustainable

Environment Minister Discusses Enhanced Cooperation with French Ambassador

Minister of Water and Environment, Eng. Tawfiq al-Sharjabi, held a virtual meeting with the French Ambassador to Yemen, Catherine Corm-Kammoun, to discuss strengthening bilateral cooperation in the environmental sector.

Gaza Death Toll Rises to 55,297 Amid Ongoing Israeli Aggression

The death toll from the Israeli genocidal war on the Gaza Strip since October 7, 2023, has risen to 55,297, with 128,426 injured, the Ministry of Health in afflicted Palestinian enclave said. The majority of the victims are women and children.

U.S. President plans to increase tariffs on steel, aluminum imports

U.S. President Donald Trump confirmed his intention to increase tariffs on foreign imports of steel and aluminum from 25% to 50%, which will increase pressure on steel producers worldwide and threaten to escalate his trade war.

Portugal Wins UEFA Nations League Title

Portugal claimed its second UEFA Nations League title after defeating Spain 5-3 in a penalty shootout, following a 2-2 draw after extra time. The match, held in Munich, Germany, saw both teams create scoring opportunities, but it was Portugal's precision in the penalty shootout that ultimately secured the victory.

Last Update: ، 2025/07/04 Time 12:20:44
Latest News:

Yemeni Ambassador Discusses Humanitarian and Development Support with German Ministry Officials

Environment Minister Discusses Enhanced Cooperation with French Ambassador

Fourteen Civilians Injured in Houthi Militia's Attack on Fuel Station in Taiz

Parliament's presidency holds meeting in Aden

General al-Zubaidi emphasizes the pivotal GCC role in restoring stability to Yemen

Zemmam: We're waiting for deposits worth $3 billion, exchange rates recovery to be sustainable

[01/12/2018 04:50]

RIYADH-SABA
Governor of the Central Bank of Yemen (CYB) Dr Mohammed Zemmam said" The CYB was waiting for deposits totaling $3 billion and we're working on this issue".

In statement to the Yemeni News Agency (Saba) he stated that the CYB is going to take several decisions to keep on the improvement of national currency exchange rate and there are a bunch of decisions will be taken by the UN or some countries regarding the new deposits.

He stated that recovery will be stable and sustainable provided that some measures must be taken inside and outside the country with the government start to work out the 2019 state's budget.

Dr Zemmam held a meeting Saturday in Riyadh with the Assistant of the UN Secretary General for Humanitarian Affairs Marck Lowckock and the Resident Representative of the UN in Yemen Lise Grande.

The session devoted to discus fiscal and Monterey situation in Yemen.

Discussions touched upon practical steps have been made by the CYB, mainly open letter of credits for all basic commodities and the approvals of withdrawing some $300 million from the Saudi deposit, largest portion has already been transferred to the banks and the remain part is in progress to be transferred.

Zemmam has confirmed that improvement in the value of Yemeni Rial (YR) has been a result of speculations but rather because of measures taken by the CYB reviving monetary and liquidity management so that all amounts of banknotes are being printed now go the reserves. " We have got a reserves totaling 500 billion (YR), we presently pay pensions for all pensioners in Yemen, we'll start paying pensioners in Sana'a next week", said Zemmam.

He added" It is agreed to consider transferring all amounts through the UN and other countries via the CYB to boost the CYB's reserves to help sustaining the (YR) which is now fairly valued".

The Governor of CYB indicated that he is going to meet similar meetings with the Eyptian, Saudi, Emirati and American sides.