The United Nations warns of an imminent complete collapse of the Yemeni economy
English - Sunday 19 September 2021 الساعة 10:39 am
Aden, NewsYemen:
The United Nations has issued a new warning of a complete and imminent collapse of the Yemeni economy, which will contribute to exacerbating the humanitarian catastrophe that threatens millions of people in the country.
"The Yemeni economy is on the verge of complete complete collapse, with more than half of the population suffering from acute food insecurity and five million people approaching famine," the spokesman for the United Nations Secretary-General, Stephane Dujarric, said in a press conference.
He added, "The Yemeni riyal is now trading at more than 1,100 against the dollar in areas controlled by the internationally recognized government."
Dujarric explained that this record collapse of the local currency is contributing to the rise in food prices in a country where more than half of the population suffers from acute food insecurity, while five million people are close to starvation.
The UN spokesman revealed preparations for holding a high-level international donors' conference to help Yemen get out of the crisis and avert an imminent collapse.
He stressed that the conference, which will be hosted by Sweden, Switzerland and the European Union, next Wednesday, to discuss the humanitarian crisis in Yemen, on the sidelines of the General Assembly meetings.
It is expected that the donor countries will announce a new package of financial aid that can help the Yemeni government alleviate the suffering and limit the accelerating deterioration of the economy in light of the ongoing conflict in the country.
The International Quartet Committee on Yemen had earlier urged the Yemeni government to return to the city of Aden, and to take all necessary measures and steps to start achieving economic stability.
The committee, which includes Saudi Arabia, the UAE, Britain and the United States, said that the government's return to work from inside Yemen is necessary in order for it to play the required role in supervising future international support aimed at achieving economic recovery in the country threatened by the worst humanitarian disaster.
In an official statement after a meeting at the ambassadorial level, she indicated the commitment of the Quartet countries to provide support to the Yemeni government, through the technical advisory committee on the economic aspect.
The committee expressed its deep concern about the collapse of the Yemeni currency, the rise in food prices, and its repercussions "on the economy and the current humanitarian situation."
