Saudi occupation pumps 94 million dollars into Bank of Aden

ADEN, Dec. 22 (YPA) – Saudi occupation forces have on Tuesday provided urgent support to the Central Bank in Aden, which is under control of the UAE-backed Southern Transitional Council (STC), for a total value of 94 million dollars, in a bid to save the STC, which is facing popular pressure over its implementation of the Riyadh Agreement at a time of economic collapse.

The Bank of Aden said in a statement, that Saudi Arabia had agreed to withdraw a new batch of the two-billion-dollar deposit to cover the demands of commercial and Islamic banks, as well as to open credits for the import of basic goods.

This is the first time Saudi Arabia has agreed to withdraw from the deposit in months.

The pumping of foreign currencies in Aden centers would prevent further deterioration of the local currency, which in the past few days has exceeded the 900 rial per dollar exchange rate.

E.M.