Signs of economic catastrophe looming in Aden

ADEN, June 08 (YPA) -Signs of an economic catastrophe are looming in the Yemeni areas under the control of the Saudi-led coalition.

This came after a confirmation of imminent depletion of monetary reserves from the Central Bank of Aden, the repercussions of which appeared with the collapse of the dollar exchange rate, with the exchange rate in the city of Aden hitting 1347 Yemeni riyals, the highest level in two years. In addition to the rise in fuel prices in which 20-liters of gasoline reached 21,000 riyals.

Observers confirmed that the collapse of the exchange rate and the rise in fuel prices are only preludes to the coming collapse that will hit all sectors in Aden and other regions under the control of the coalition, which will be reflected in the living conditions of the residents of these areas, where poverty and famine may worsen in the near future, especially with the circulation of news confirming that the Bank of Aden will not be able to pay the salaries of employees next month.

Media have reported that Saudi Arabia and the UAE have refused to provide economic aid to the pro- coalition government that would help it get out of the serious economic catastrophe besetting it.

E.M