Pro-coalition Aden Bank governor reveals causes of economic disaster

ADEN, June 16 (YPA) – The governor of Bank of Aden, Ahmed Ghaleb Al-Maabqi, loyal to Saudi-led coalition revealed the most important reasons behind the economic disaster that hit Yemen’s southern and eastern governorates.

Al-Maabqi stressed in a television interview that the illegal new printed currency by pro-coalition government represented an economic setback, noting that the pro-coalition government from 2016 until the end of 2021 was covering its expenses by printing new  currency.

Al-Maabqi commented on the pro-coalition government procedures of printing the new currency, sarcastically saying, “The process had been done without any agreed financial policies.

He explained that the pro-coalition government does not have a real budget until today, pointing out that what it announces are just unrealistic budgets and mere speculation.

Al-Maabqi stated that the work of Bank Aden and the Ministry of Finance is not through a real budget, but only “financial reinforcements”, pointing out that those who can get reinforcement from the “Presidential Leadership Council” or the government come to disburse it from the bank.

E.M