Government: Ban of newly-printed banknotes circulation destroy Yemen’s economy

Government: Ban of newly-printed banknotes circulation destroy Yemen’s economy

Alsahwa Net- The government of Yemen said on Monday that the Houthis rebels’ ban of circulation of the newly-printed banknotes of the Yemeni national currency, harms the national economy and threatens the people’s incomes.

 

The Houthis-run Central Bank of Yemen in the capital Sana’a banned on Tuesday 17 December circulation and possession of the new banknotes that the legitimate government printed during the past two years.

The Houthis’ bank gave 30-day deadline to citizens of their controlled-areas to replace their cash of the new notes with electronic currency that they created for this purpose.

Yemen’s Prime Minister of the legitimate government, Maeen Abdulmalik said that the United Nations (UN) and its special envoy to Yemen must pressurize the Houthis militia to reverse the ban which increases already worsening starvation and poverty.

He indicated that such measures threaten food security of the Yemeni people as the government printed the new banknotes to stabilize value of the national currency and staple food commodities.

He said that this ban by the Houthis on the use of the new banknotes comes within the Houthis-destructive policy against the national economy which they started five years ago. 

The UN says that Yemen experiences the worst world humanitarian crisis that was aggravated by the five-year ongoing conflict which is caused by the Houthis’ coup in late September 2014.

Abdulmalik said that the Houthis ban of the new banknotes’ circulation in their controlled-areas deepens the humanitarian crisis.

In 2018, the Houthis militants stormed commercial shops and money exchange services and confiscated large amounts of money of the new banknotes.

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