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Saudi’s financial aid to Yemen

in ECONOMY/MIDLE EAST by

In order to “alleviate the suffering” of Yemeni people, Saudi King Salman has issued a directive to transfer $2 billions to Yemen’s Central Bank. This action would help Yemen’s economic and financial situation by bolstering the Yemeni riyal. The transfer, that brings the total amount of Saudi financial aid to the Yemen’s central Bank to $3 billion, is directed to ameliorate the living condition of the civil population. By official statement, this contribution will help the country to “cope with economic burdens resulting from the crimes and violations committed by Iranian-backed Houthi militias”. Indeed, Houthi rebels are accused of looting the state, taking control of government revenues, including those generated from oil and its derivatives. Their actions throughout the country are the vector of misery and destruction, thus damaging the lives of Yemenis for several years ahead.   Doing so, Saudi Arabia has also reaffirmed the support for the Yemeni Government and stated that the Kingdom will continue to assist Yemen in its efforts to restore security and stability. Meanwhile Yemen’s president Hadi extended his thanks to Saudi Arabia’s King for the generous gesture to alleviate the suffering of the Yemeni people.

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