The Board of Directors of the Central Bank of Yemen discussed at the conclusion of its tenth session meetings today, Thursday, via video call, headed by the Bank’s Governor and Chairman of the Board of Directors, Ahmed Ghaleb, the financial and monetary developments and the associated indicators and expectations for the performance of those indicators in the short term.

This comes in light of the unfavorable economic conditions that the country is experiencing, as a result of the cessation of the most important resources and the decline of external support.

The Council stressed the importance of taking urgent steps to confront the crisis, especially the severe liquidity crisis, as it assigned the executive management to communicate with the Presidential Leadership Council and the government to inform them of current developments.

The Council called for urgent action to address the existing bottlenecks, in order to avoid their negative effects on living stability and social peace, especially with regard to the files of salaries and services.

The Council also addressed important issues related to institutional reforms at the Bank, including strengthening capabilities and modernizing automated and payment systems, with the support of international organizations and friendly countries. He stressed the strengthening of governance and transparency procedures by completing the audit of the bank’s budgets for the past period and publishing the data through the bank’s official websites, with the aim of improving the management of banking operations.

In light of these facts, the economic situation in Yemen remains at stake, which requires a quick and effective response from the relevant authorities to maintain stability and improve the living conditions of citizens.