STC leader launches strong criticism of Aden Central Bank management

ADEN, May 15 (YPA) – A leader in the UAE-backed Southern Transitional Council (STC), launched a sharp criticism of the current management of the Central Bank in Aden, describing it as “the worst administration in its history.”

In a post on X, Lutfi Shatara said the bank’s failures have had a direct and serious impact on its performance and stability.

He said that officials receive some of the highest salaries and allowances in foreign currency, along with international per diems, for what he described as continuous foreign travel.

Shatara added that these measures have produced no tangible positive results and have instead contributed to worsening the crisis, blaming the bank’s management for appointments based on what he described as a “single color” and from “half a governorate,” in an apparent reference to Taiz.

He  further stated that the financial system in Aden is paralyzed, with a near-total absence of local currency circulation, resulting in an abnormal situation in which exchange rates are set without real market activity.

In a related context, economic analyst Majed Al-Daari said in a post on “X” that Aden is witnessing a deliberate emptying of institutions of qualified professionals and expertise.

He added that the current situation reflects what he described as a retaliatory approach aimed at excluding competent personnel without clear justification.

Al-Daari said that the only “fault” of these professionals is their dedication and competence, amid the absence of political parties to protect them or connections linking them to the leaders of what he described as the “failed legitimacy” to endorse them.

He further stated that the absence of what he termed “experience in corruption” has forced qualified individuals out of their positions.

@E.Y.M