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

Yemen looks for robust Chinese partnership in Transport—Minister insists

Minister of Transport Dr. Abdel Salam Humayd asserted that the Yemeni government is eagerly seeking to establish a strategic Yemeni-Chinese cooperation and partnership in the transport businesses.

BRUSSELS: European Parliament Urges Lifting Schengen Land Border Controls for Bulgaria, Romania

The European Parliament (EP) on Wednesday called for lifting Schengen land border controls for Bulgaria and Romania by the end of 2024. Air and sea border controls were scrapped on March 31, 2024.

Chinese car sales surges 26.4 percent in the first quarter of 2024

Sales of passenger cars of Chinese brands increased by 26.4 percent year-on-year in the first quarter of 2024 as some 3.39 million vehicles were sold during the mentioned period.

Spain reaches the final of the European Nations League and sets a date with Croatia

The Spanish national team reached the final match of the European Nations League, after defeating Italy with two goals to one in the semi-finals of the tournament, to set a date in the final match with the Croatian national team, which succeeded in reaching the same role by defeating the Netherlands.

Last Update: ، 2024/04/25 Time 01:26:03
Latest News:

Defense Minister meets with Acting-Chinese Ambassador in Aden

Tarmoum, Chinese Chargé d'Affaires promoting cooperation in the telecom sector

Two children injured by Houthi landmine in southeastern Yemen's Shabwa

Cabinet looks at various issues on its agenda

Al-Bahsani inspects combat preparedness of military units in Hadhramaut coast

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.