The government-held port of Aden received the commercial ship Blue Nile on April 8, without it being subject to inspection by the Saudi-led coalition at Jeddah, a first since the expansion of the conflict in 2015. The arrival followed a statement released by Aden Governor Ahmed Hamed Lamlas on April 4, encouraging shipping companies to operate direct routes to the…
Read more...CBY-Aden
-
Govt Receives New Financial Support
On February 21, Saudi Arabia agreed to supply the Central Bank of Yemen (CBY) in Aden with a US$1 billion deposit to prop up Yemen’s faltering economy and support the value of the rial in government-held areas. The aid will not be deposited directly with the CBY-Aden, but rather handled through the Arab Monetary Fund (AMF) as part of the…
Read more... -
Bridging the Divide: Mitigating the Impacts of the CBY Schism on Yemen’s Banking Sector
The September 2016 rupture of the Central Bank of Yemen (CBY) into rival branches associated with the main warring parties has severely undermined the country’s banking sector. The most fundamental issues affecting Yemeni banks are the differing currency systems that have emerged between areas controlled by the internationally recognized government and Houthi authorities, and the associated competing centers of financial…
Read more... -
Yemen Annual Review 2022
The past year has been one of extreme consequence for Yemen. The war has entered a new phase of low-level violence and economic warfare. Casualties are down since a truce was signed in April, and have remained relatively low even after its acrimonious expiration in October. The internationally recognized government has sworn in a new executive body, but it has…
Read more... -
Oil Port Attacks Threaten Government Finances
Houthi drone attacks on Nushayma and Al-Dabba oil terminals in the latter half of October paralyzed oil exports and threatened to undermine government finances. Although its effects were not felt in October, prolonged loss of oil revenue would cut the government off from by far its largest source of revenue, which would have widespread knock-on effects, including eroding the ability…
Read more... -
Govt and Saudi Arabia Reach Agreement For New Fuel Grant
Economic developments in September centered on the fuel crisis in Houthi-held areas and the continued delay of the Saudi-Emirati economic support package to the government. In early September, Houthi authorities initiated an emergency plan in areas under their control amid reportedly severe fuel shortages. Houthi authorities accused the coalition of being behind the shortage, citing a backup of fuel ships…
Read more... -
WFP Secures Ukrainian Grain Shipment for Yemen
On August 23, the Yemeni government’s Minister of Industry and Trade Mohammed al-Ashwal stated that Yemen has stocks of wheat sufficient to cover approximately four months of consumption during a meeting with the Chamber of Commerce and commercial traders and importers in Aden. Al-Ashwal said that Yemen was establishing supply lines to import wheat from several countries, including Romania and…
Read more...
