Sana’a - Saba:
Ministries of Finance and Economy, Industry, and Investment have welcomed the recent measures taken by the Central Bank of Yemen as part of its ongoing plan to rehabilitate and reform the country’s monetary system.
These steps include the issuance of a second edition of the 200-riyal banknote and the minting of a new 50-riyal coin for circulation.
In a joint statement, the two ministries affirmed that the Central Bank’s actions are part of its core mandate and legal tools to address the issue of damaged currency and to provide solutions aimed at mitigating the impact of the economic war waged by the aggression forces and their mercenaries.
The statement praised the measures taken, noting that they will positively contribute to facilitating cash transactions and improving the availability of smaller denominations, whose scarcity has had a direct impact on the daily lives of the Yemeni people.
It further emphasized that these steps reflect the success of the Sana’a-based government in managing the economic portfolio through a comprehensive strategy that prioritizes the well-being of citizens and seeks to alleviate the burdens imposed by the war, which has continued for over a decade.
The ministries pointed out that the timing of the new currency issuance serves as a blow to the tools of aggression and their mercenaries, who had pinned their hopes on the economic war following their military defeat.
Sana’a has once again demonstrated unmatched competence in handling the economic file, particularly in matters relating to currency and exchange rate stability—especially in contrast to record-high and alarming rates seen in the occupied territories.
According to the statement, the recent measures are not short-term fixes, but rather financial and economic strategies based on sound foundations and designed to ensure sustainable success.
The delay in implementing them was due to ongoing efforts related to advancing comprehensive peace initiatives, in which the economic aspect remains a top priority.
The statement also commended the Central Bank's commitment to issuing currency according to the latest global standards in banknote printing, incorporating advanced security features across multiple levels.
It further highlighted that the new currency was only released after completing all technical preparations and with careful consideration of the appropriate economic and political timing.
The ministries reaffirmed their support for the Central Bank’s decisions, stressing the importance of integrated work in accordance with approved plans and programs.
They also underscored the goal of achieving maximum coordination between fiscal and monetary policies to ensure economic stability and lay the foundation for comprehensive recovery and sustainable development.
| more of (Local) |