Al-Zubaidi fails to neutralize “Central Bank” in Aden amid economic collapse fears

ADEN, Dec. 09 (YPA) – Aidarous Al-Zubaidi, the head of the UAE-backed Southern Transitional Council (STC), has failed in his recent attempts to neutralize the Central Bank in Aden from the decisions of Presidential Leadership Council’s President, Rashad Al-Alimi.

This failure coincides with his inability to finalize the decision to mint a new currency, raising fears of a renewed economic collapse.

Sources revealed a meeting between Mahmoud Al-Subaihi, who was summoned by Al-Zubaidi, and the Governor of the Central Bank, Ahmed Al-Ma’abaqi. Al-Subaihi reportedly conveyed hints to Al-Ma’abaqi about his appointment to a high-ranking position in the “South” government in exchange for neutralizing the Central Bank.

Al-Zubaidi’s attempts to isolate the Central Bank follow reports that he failed to secure approval for minting a new currency, having been advised by experts to postpone the move.

The STC fears counter-steps from Al-Alimi, which could include lifting the legal cover off any new currency, threatening an unprecedented economic collapse in the areas controlled by the STC .

YPA