Al-Zaori discusses with NDI joint cooperation issues
Minister of Social and Labor Affairs Mohammad al-Zaori discussed Monday with the Delegation of the American National Democratic Institute for International Affairs enhancing cooperation and efforts of the government in tackling different critical issues and files.
Secretary-General of the Arab League calls for assisting Yemenis
(Saba)- Secretary-General of the Arab League A hmed Aboul-Gheit on Monday appealed to the international community and humanitarian organizations to immediately provide assistance and relief to Yemenis.
China to issues treasury bonds worth $108 billion
Chin announced that it is going to issue treasury bonds for three-year-term with total cost ¥ 750 billion about $108 billion to support its economy.
Argentina wins the 2022 World Cup after defeating France
The Argentine national team was crowned champion of the Qatar World Cup 2022 after defeating its French counterpart, by penalty shootouts, by four goals to two in the match that brought them together, this evening, Sunday, at Lusail Stadium, after the end of the original and extra time, in a positive tie with three goals for both teams.
User Name: Password:
Central Bank: Exhaustion of foreign reserve complicated fiscal situation
[28/10/2017 07:06]

Exhaustion of foreign reserve, amounted to USD 5.4 billion in 2014 to less than USD 600 million in May 2016, has led to suspension of the bank's foreign accounts by client banks, said a report issued by the Central Bank of Yemen in the transitional capital of Aden.

"Depleting the foreign reserve led to running down solutions for tackling the bank's situation and its failure of fulfilling internal commitment in paying salaries since July 2016 and its failure since May 2016 of honoring foreign commitments of paying foreign debts," added the report.

According to the report, the depletion of the foreign reserve has also led to running out cash reserve of the national currency during the same period and resorting to pump old banknotes- to be wasted- to the markets, as well as the bank's failure of printing banknotes and receiving foreign debts.

The report pointed out to efforts and successes achieved by the bank's leadership, which started since the first day on preparing a short-term plan. The plan covered the final quarter of the year 2016 till September 2017.

The leadership of the bank communicated with the International Monetary Fund and the World Bank on October 2017 and agreed on providing technical and consultative support to the central bank in Aden, including informative systems for fighting money laundering and financing terrorists, said the bank's report.

Al-Zaori discusses with NDI joint cooperation issues
Prime Minister reiterates commitment of the government to peace approach
Leadership Council Chairman stresses private sector's leading role in development
Yemen expresses solidarity with bothers in Syria, Turkey over earthquake
Brig. Gen. Tariq Saleh orders speeding up operation of Internet services in liberated regions
Ministry of Health discusses with UNICEF ways to enhance joint cooperation
Ambassador al-Shamiri meets with Indonesian FM official
Banaja: CBY grants 6 licenses to microfinance banks
Human Rights Minister, American Democratic Institute discuss collaboration
Al-AGhbari receives delegation from German Development Bank, GIZ

About Saba News Agency | Usage Agreement | Contact Us