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

Maritime Affairs Authority Discusses with European Nordic Support Foundation Enhancing Maritime Security

The Chief Executive of the General Maritime Affairs Authority Faheem Saif met Monday with the Regional Director of the International Support Foundation for the Nordic Countries Qasim Douali. The two parties discussed ways to strengthen cooperation in the fields of maritime security, pollution control and enhancing the Authority’s technical capacities.

Bulgaria's Kozloduy Nuclear Plant Partners with 4 Universities to Train Future Staff

Kozloduy Nuclear Power Plant (NPP) - New Builds EAD signed framework agreements with four Bulgarian universities to collaborate on staffing future projects, attended by Energy Minister Zhecho Stankov and Education Minister Krasimir Valchev.

South Korea's exports rise 8.4 percent in November

South Korea's exports increased 8.4 percent last November compared to the earlier year, exceeding 61 billion US dollars, continuing their sixth consecutive month of growth, thanks to strong demand for semiconductors.

Croatia Qualifies for 2026 World Cup with Thrilling Win Over Faroe Islands

Croatia secured a spot in the 2026 World Cup in the United States, Mexico, and Canada after defeating the Faroe Islands 3-1.

Last Update: ، 2025/12/02 Time 09:55:30
Latest News:

Al-Soqatri Discusses with Silah Foundation Projects Implemented in Agricultural, Fisheries Sectors

Leadership Council Member Al-Muharrami Meets State Security Chiefs

Defense Minister Discusses Defense Cooperation with Russian Ambassador

"MASAM” Removes 4,726 Mines and Explosives in November and Clears More Than 74 Million Square Meters

President al-Alimi urges reinforcing national unity, upholding state institutions

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.