Saudi Arabia has deposited one billion dollars in the central bank to support Yemen’s economic reform program.
According to the official Saudi news agency, the objective of the economic program is to develop a clear path and vision to meet the needs of the Yemeni people.
Saudi Arabia added in the statement that it wants to stabilize the treasury in Yemen’s central bank so that it can promote economic stability.
Head of Yemen’s Presidential Guidance Council, Rashid Al Alimi, said that the Saudi deposit will give a good boost to Yemen’s economy, stabilize the national currency and reduce the human tragedy caused by the Houthi rebels.
Central Bank Deputy Governor Mansoor Raghe said that Saudi Arabia had asked for reforms before the deposit in the bank.
He said that these reforms were related to governance issues, transparency and increased supervision of banks.
It should be remembered that in November 2022, the Arab Monetary Fund signed a one billion dollar agreement to support Yemen’s economic reform program.
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