Central Bank of Yemen

During the conflict in Yemen, the government-run Central Bank of Yemen in Aden (CBY-Aden), and other government-aligned economic stakeholders have argued for a policy that would rationalize humanitarian and broader aid transfers to support the provision of foreign exchange (FX) to critical commodity importers. This could benefit the economy at large and specifically support the stabilization of food prices, a…

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…

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…

Marib, a centrally-located governorate connecting Al-Bayda, Shabwa, Hadramawt, Al-Jawf and Sana’a, has undergone a drastic transformation since the war started in 2015, emerging as a booming economic, social, political and military center. Natural resources including irrigation from the Marib dam and oil and gas reserves were instrumental in building a bustling metropolis in Marib city over a short period. But…

This policy brief offers recommendations to maximize the effectiveness of governance in post-conflict Yemen – whatever the composition or structure of the government. It presents three case studies on government models previously introduced in Yemen, Tunisia and Lebanon after periods of instability. These case studies offer useful lessons on the challenges, risks and opportunities of forming transitional governments in post-conflict contexts.