Economic committee head holds central bank governor responsible for Riyal collapse

ADEN, Sep. 24 (YPA) – The head of the economic committee, appointed by the government of Ahmed Obaid bin Dagher, Hafez Mayad, held governor of the central bank in Aden the responsibility for the implementation of cash treatments, to stop the collapse of the local currency.

In his Face book page, Mayad said that the committee, which formed by the exiled president Hadi, was responsible for presenting the opinion, not for implementing the decisions taken.

“The central bank governor is legally authorized to do so and we are ready to help him when needed,” he said.

The Yemeni riyal is witnessing a continuous collapse against foreign currencies, especially the dollar and the Saudi riyal, amid a government deficit to solve the problem of the riyal’s decline.

Mayad put forward two steps, the first the central bank should do it if it wanted to stop the collapse, by accelerating the opening of credits because confidence is completely removed by traders in the proceedings, and second, , dealing firmly against speculators in the currency.

Sameera Hassn