Cabinet convenes on Saudi brotherly bailout

President al-Alimi discusses with Saudi Minister of Defense National Developments, Prospects for Promising Partnership

His Excellency President Dr. Rashad Mohammed al-Alimi, the Chairman of the Presidential Leadership Council, along with Council members Tareq Saleh, Abdulrahman al-Muhrrami, Dr. Abdullah al-Alimi and Othman Mujalli met Wednesday with His Royal Highness Prince Khalid bin Salman bin Abdulaziz, Minister of Defense of the sisterly Kingdom of Saudi Arabia.

Massive 7.0 Magnitude Earthquake Strikes Alaska, USA

A powerful 7.0 magnitude earthquake struck Alaska, USA, yesterday evening, according to the United States Geological Survey (USGS).

S. Korea's ITC exports rise 12.4 percent in 2025

South Korea's exports in the information and communication technology (ICT) industry rose 12.4 percent to a record high in 2025, due to strong demand from the artificial intelligence industry.

Morocco and Senegal qualify for the semi-finals of the Africa Cup of Nations

The Moroccan national team qualified for the semi-finals of the Africa Cup of Nations after defeating Cameroon 2-0 in their match at Prince Moulay Abdellah Stadium in the Moroccan capital, Rabat.

Last Update: ، 2026/01/15 Time 09:45:03
Latest News:

Foreign Minister Discusses with UN Resident Coordinator Enhancing Humanitarian, Development Cooperation

Chairman of Shura Council Discusses with European Union Ambassador Efforts to Support Peace, Stability ..

Governor of Taiz Discusses Emergency Measures to Address Water Crisis

Yemen Participates in 49th Session of Arab Youth and Sports Ministers Council in Cairo

Yemeni Military Heroes Laid to Rest in Marib Ceremony

Cabinet convenes on Saudi brotherly bailout

[17/01/2018 05:50]

ADEN-SABA
Yemen's Cabinet held a meeting in Aden on Wednesday onthe brotherly Saudi bailout in the form of a $2 billion deposit to stabilize the country's currency.

Earlier in the day Saudi Arabia’s King Salman bin Abdulaziz Al Saud ordered the amount to be deposited into the Central Bank of Yemen to stabilize the Yemeni Riyalwhich declined to unprecedented lows, the rial traded at 500 to the dollar this week.

"In the name of the Cabinet, I highly appreciate the orders of King Salman bin Abdulaziz Al Saud to deposit $2 billion into the Central Bank in order to lift the suffering of the Yemeni people," said Prime Minister Ahmed bin-Daghr at the opening of the Cabinet's meeting.

Bin-Daghr also thanked President Abd-Rabbu Mansour Hadi for his follow-up on this generous Saudi aid.

The Cabinet said "this generous support comes at a time we are facing complicated economic circumstances as a result of the war ignited by Iran's proxies and tools in Yemen – the Houthi rebel militia."