Sana’a Accuses Saudi Coalition of Withdrawing Foreign Currency from Yemen

The forces of the Saudi coalition aimed to withdraw foreign exchange from Yemeni free cities, the Undersecretary of the Ministry of Finance in Sana’a government confirmed on Sunday, calling for tightening control to prevent the entry of counterfeit currency.

Ahmed Hajjer told Almasirah that there is no monetary policy in the “occupied” southern cities, and there is no single central bank that manages this policy.

He explained that there are four banks that are subject to the policy of the Saudi coalition and are affected by their variations.

Hajjer pointed out that the Saudi-backed government in Aden is pushing to print more banknotes in order to get rid of their financial burdens, while the leaders of this government exploit this to speculate in the currency and accumulate investments in their assets abroad.

The Undersecretary of the Ministry of Finance in Sana’a explained that the cash flow with the pro-coalition government is equal to twice what the local market needs, stressing that the forces of Saudi coalition aim to withdraw foreign exchange from the cities that are not under the “occupation”.

Hajjer also indicated that the forces of coalition will raise the price of the customs dollar, which will increase the suffering of the citizens, since the largest goods come from the “occupied areas”, and Aden government will speculate in the currency due to the increase in the revenues of the “occupied areas” from customs.

He called for finding a monetary policy with an independent financial economy, so that the economic war does not remain a tool in the hands of the Saudi-backed government, pointing to the need for cooperation between official authorities and the private sector.

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