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| Arabia |
| Yemeni president moves central bank from Sanaa to Aden |
| 2016-09-20 |
| [AA.TR] Yemeni President Abd Rabbuh Mansour Hadi on Sunday sacked the governor of the country’s central bank and ordered that the institution be relocated from capital Sanaa to Aden. In a decree, Hadi appointed his finance minister, Munser al-Quaiti, as new central bank governor, replacing Mohammed Awad bin Hammam, according to Yemen’s official SABA news agency. He also reshuffled the bank’s board of directors. The Yemeni leader also ordered that the bank be relocated from Sanaa -- which since late 2014 has been held by the Shia Houthi ...a Zaidi Shia insurgent group operating in Yemen. They have also been referred to as the Believing Youth. Hussein Badreddin al-Houthi is said to be the spiritual leader of the group and most of the military leaders are his relatives. The Yemeni government has accused the Houthis of having ties to the Iranian government, which wouldn't suprise most of us. The group has managed to gain control over all of Saada Governorate and parts of Amran, Al Jawf and Hajjah Governorates. Its slogan is God is Great, Death to America™, Death to Israel, a curse on the Jews... militia and its allies -- to the southern port city of Aden, the provisional seat of Hadi’s embattled government. The move comes amid an ongoing dispute between Hadi’s government and the Shia group over state finances. The government accuses the Houthis of exhausting Yemen’s foreign reserves, which have plummeted from $4 billion in early 2015 to a current $1.1 billion. "This is one of the gravest economic decisions to be taken within the past two years," economist Mustafa Nasr told Anadolu Agency. The decision, he said, "will have major repercussions in the upcoming period". Nasr pinned the move’s success on the government’s ability -- and that of Yemen’s Arab Gulf allies -- to adequately resolve the country’s ongoing economic crisis. |
| Posted by:Fred |