Economic Situation in Yemen is still Under ControlSource: www.export-egypt.com 2/13/2015, Location: Middle East |
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The economic and monetary situation in Yemen is still under control, the Central Bank of Yemen (CBY) has said.
"Despite the tough political situation in Yemen, the economic and monetary situation in Yemen is still under control," CBY Governor Mohamed Hammam said. The currency exchange rates remain relatively stable and is demanded by the supply and demand, he said. Yemen's Foreign exchange reserves are still within safe limits, Hammam said. "The reserves reached $4.5 billion at the end of January 2015, which cover the importing bill for more than four months." He denied news reports about the withdrawal of the $1 billion Saudi Arabia deposit and declining the value of Yemen's currency. He also refuted strongly rumors circulate the government's inability to pay salaries for the civil and military employees. The CBY governor stressed that such news is "fabricated and baseless." |
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