Yemen – EU Ambassadors to Yemen visit Aden’s Central Bank

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Aden-Yemen 17/01/2019

The EU ambassadors to Yemen paid a visit to the Yemeni Central Bank in Crater, Aden, to address the currency depreciation crisis in Yemen. The delegation was welcomed by the head of the bank Dr. Muhammad Zammam, who, during a meeting, went through an arranged strategy to revitalize the bank’s role after the war. The only assistance the Central Bank received during the crisis was a deposit from Saudi Arabia estimated at $2 billion, along with another $200 million to support the Central Bank’s external center and another $60 million for oil derivatives. The head of the Central Bank praised the positive outcomes that were accomplished by opening credit accounts for importing basic Saudi-backed supplies, which is estimated at $2 billion for previous expenses during 2018. For her part, the EU Ambassador confirmed that a European delegation will be visiting Yemen in the next two months to address the terms of support to be provided by the European Union, to be submitted as part of the EU budget for the year 2020.

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