Advertise   Subscribe Contact Yemen Post
 
About Us   Our Mission Terms & Services
Yemen Post Newspaper Logo  
Editor Picture In a couple of months, closed door meetings for Hadi will be limited..... Foreign embassy searches not ruled out.... Foreign censorship halted..... Yemenis linked with foreign intelligence hunted for.  
Hakim Almasmari  
 Publisher & Editor in Chief   
  Email the Editor
Advanced Search
HOME EDITORIAL LOCAL INTERVIEW REPORT POLITICS BUSINESS HEALTH YEMEN IN THE NEWS MIDDLE EAST INTERNATIONAL ARCHIVE
LATEST UPDATES Yemen Socialist, Nasserite Parties set conditions for participation in new government :: Yemen to include Houthi militants in police departments :: Yemeni factions agree to form government of technocrats, no more quotas :: Yemen arrests leader, four members of AQAP :: Yemen launches first conference on anti-juvenile death penalty :: Yemen officials & businessmen owe $500 million in electricity fees :: Total’s Board of Directors pays homage to Christophe de Margerie; organizes Group’s new governance :: UN Adviser Jamal Benomar urges acceleration of new Yemen government :: Presidency denies reports on deals for sovereign portfolios :: Tribes regain parts of Manaseh after battles with Houthi militants ::
BREAKING NEWS
z
BUSINESS
Last updated: 04:46:38 PM GMT(+03) Wednesday, 03, August, 2011
 
 

Yemen Foreign Currency Reserves Drop by $1.3 Billion – Bank 

 
*
 Yemen Post Staff

Yemen's foreign currency reserves declined sharply in the first half of this year due to persistent unrest and associated problems, the Central Bank of Yemen said on Tuesday, expecting the inflation rate, now at 15 percent, will decrease soon.

Governor of the Bank, Muhammad bin Hamam, said the foreign currency reserves fell by $1.3 billion and that they reached by  July 30 $4.6 billion. The reserves  are expected to increase when the political crisis ends, he said.

The crisis caused problems including acute shortages, persistent power outages, factory closures  and record layoff figures, and affected  tourism revenue and direct foreign investments in the country, he said.

Owing to this, the Bank intervened pumping large funds of hard currencies and that was a key reason for the sharp drop of the foreign currency reserves, he said.

Meantime, Yemen is facing severe crises topped by acute fuel, cooking gas and water shortages and military operations against Al-Qaeda and revolution defenders in some cities,  and continuous dueling protests that have largely affected the national economy and triggered warnings of the country's collapse.  

 

 

 

 


*
Source: Yemen Post Newspaper
 
 
MORE BUSINESS
 
Total’s Board of Directors pays homage to Christophe de Margerie; organizes Group’s new governance
Clarification on the CSR Program of 2014 in Block 10 Concession Area
IMF gives Yemen $73.8 million in first amount of three-year loan
Press Release: Yemen LNG confirms that it is fully operational
Yemen approves new fuel price as from tonight
Yemen, GDF Suez in talks to improve 2015's LNG price
WB gives Yemen $3 million to develop higher education quality
Attacks on crude pipes blamed for continued drop in Yemen oil revenue
Yemen LNG announces winners of 2014 scholarship program; 20 new scholarships to France for 2015
Yemen Takes Candian Nexen to Court
 
 
Comments
 
Leave a Comment
Comment will be published once it has been approved by our moderators.
Name:
Title:
Comment:

TERMS AND CONDITIONS
Yemen Post may edit comments for length and clarity but will not change the tone of the message. Comments will only be accepted if all fields (including name) are filled correctly and the message isn't abusive, defamatory or offensive. All comments sent may be forwarded for use in the Yemen Post newspaper.
Article Tools
Email this Article Email this article
Print Friendly Version Print
Email this Article Email the Editor
 
Most popular
 Yemeni factions agree to form government of technocrats, no more quotas
 Yemen arrests leader, four members of AQAP
 Yemen launches first conference on anti-juvenile death penalty
 Yemen Socialist, Nasserite Parties set conditions for participation in new government
 Yemen to include Houthi militants in police departments
 Yemen officials & businessmen owe $500 million in electricity fees
 
Services
  Letters to the Editor
  Dear President
  Advertise
  Subscribe
  Submit Your Articles
  Classified
  Readers' Letters
 

 
Quick poll
Do you think President Hadi is building the base to rule Yemen for many years?

VOTE  OR SEE POLL RESULTS
 

   
   
   
© Yemen Post. All Rights Reserved 2007- 2014    

 Designed and developed by
  HyperLink