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The Sana’a Center Economic Unit's latest contributions

Yemen Economic Bulletin: Battle to Regulate Banks Threatens to Rupture the Financial Sector

November 27, 2020
The rival branches of the fragmented Central Bank of Yemen (CBY) have recently escalated their battle for control over access to data held by the country’s commercial and Islamic banks and money exchange firms, threatening the viability of the financial sector overall and risking a broad spectrum of economic and humanitarian fallout. This strug…

Yemen’s Accelerating Economic Woes During the COVID-19 Pandemic

October 13, 2020
Since early 2015, when the onset of war led to the cessation of large-scale oil exports, Yemen has been almost completely dependent on three main external sources to secure foreign currency inflows and stimulate economic activity: foreign humanitarian aid, Saudi financial support to the Yemeni government, and – by far the most significant – remitta…

Yemen Economic Bulletin: Tax and Rule – Houthis Move to Institutionalize Hashemite Elite with ‘One-Fifth’ Levy

October 6, 2020
On April 29, Houthi authorities in Sana’a formally enacted new regulations on the collection and use of zakat, the Islamic obligation for individuals to donate a portion of their wealth each year to charitable causes. The executive bylaw, signed by Mehdi al-Mashat, president of the Houthi-run Supreme Political Council (SPC), imposes a khums tax (…

Yemen Economic Bulletin: Widening Exchange Rate Disparity Between New and Old Banknotes

September 9, 2020
Exchange rate divergence between Sana’a and Aden reached a record high by the end of August, with a Yemeni rial worth 33 percent less in Aden than in Sana’a. The rial was trading at YR805 per US$1 in the Aden parallel exchange market, compared to YR605 per US$1 in Sana’a.  The difference in value of the rial between government- and Houthi-contro…

Yemen Economic Bulletin: Another Stage-Managed Fuel Crisis

July 11, 2020
The images are familiar by now: Yemenis in Houthi-controlled territory queue at fuel stations, amid announced shortages. Meanwhile, fuel tankers build up in the Coalition Holding Area (CHA), located in international waters in the Red Sea offshore of Jizan, Saudi Arabia. The number of ships awaiting approval from the government and the Saudi-led coa…