UN

Yemen received some rare good news in September when the UN announced it had finally reached the threshold (retroactively reduced from $80 to $75 million) to begin the first phase of the operation to salvage the FSO Safer. Despite the expiration of the truce, preparations surrounding the FSO Safer operation appeared to continue in early October. Although weather conditions improved…

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…

Even before the events of 2014 and 2015 that led Yemen into the ongoing civil war, its economy was fragile. The years of hardship that have haunted the country ever since have been devastating. Yemen is now rated as one of the hardest places in the world for businesses to operate and is last or near last in a host of global business competitiveness indexes. From January 25-27,2021 the seventh Development Champions Forum, held virtually, focused on this dire national…

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…