Rial

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…

Through periods of tolerance and persecution, marginalization has remained a constant in the treatment of racial and religious minorities in Yemeni society. During the ongoing conflict, however, violence and subjugation against these marginalized groups has increased dramatically, to the point that it is fundamentally reshaping Yemeni society. For Yemen as we know it to continue to exist it needs to…

In September, the Yemeni rial’s recent decline accelerated precipitously, with the currency’s value dropping to record lows by month’s end. While the rial has been under multiple, intensifying pressures stemming from the war for several years, a large increase in the money supply – through a 30 percent increase in civil servant salaries – and the collapse of peace talks last month appear to have spurred a rial sell-off in the market. A nation-wide fuel shortage ensued. Retail fuel stations…

In the last six days of August the Yemeni rial entered one of its steepest and most rapid declines in value since the conflict began, resulting in sudden price spikes for basic foodstuffs. Given Yemen’s overwhelming dependence on imports to feed the population, such changes in the rial’s value have direct implications for the country’s humanitarian crisis.

At the end of July the Yemen conflict seemed poised to take on much broader regional and global dimensions, as Saudi Arabia halted oil shipments through the Bab al-Mandeb Strait off Yemen’s Red Sea coast. Iran declared the sea “no longer secure,” and Israel threatened military intervention if Houthi forces attempted to close the strait to shipping (see ‘Riyadh Halts…

In early 2017 the United Nations (UN) declared that Yemen was enduring the single largest humanitarian crisis in the world. By year’s end, UN agencies estimated that 17.8 million people in Yemen were food insecure and 8.4 million were at risk of famine. Economic and public service collapse left more than 16 million Yemenis without access to safe water and…