Aden: Central Bank Reveals Saudi Conditions that Postponed Deposit
Saudi Arabia refused on Monday, to transfer the announced deposit for the third month in a row, despite the announcement by the Central Bank in Aden that it had completed all the conditions for reforms, it took it as a pretext to prevent the transfer of the deposit estimated at three billion dollars.
A source in the Central Bank of Aden stated that the government of Maeen handed over to the Saudi ambassador to Yemen, Muhammad Al Jaber, an integrated file of the reforms it had implemented during the last periodو based on the requirements of the coalition, and requested it to expedite the process of transferring the Saudi-Emirati deposit.
The source indicated that the Saudi response was shocking, where the ambassador indicated that the deposit is linked to political aspects and appointments in the power structure loyal to his country in southern Yemen.
The government of Maeen issued several decisions, the latest of which was the decision of the Central Bank to raise the rate of guarantees of exchange companies to one billion riyals; this caused many startups to bankrupt.
The currency in the coalition-controlled areas suffers a daily deterioration as the dollar approaches 1200 riyals barrier amid fears that these collapses will raise the food bill, what could explode the situation in areas that suffer from corruption and the systematic looting of Yemen’s sovereign wealth.
Saudi Arabia uses the deposit to pass an agenda, most notably the changes in the authorities of oil regions and the arrangement for changes in the eastern regions of Yemen, in order to ensure a future influence on those strategic areas, most notably Al-Mahrah province.