 [HODHODYEMENNEWS.NET] The Cabinet of Yemen
...an area of the Arabian Peninsula sometimes mistaken for a country. It is populated by more antagonistic tribes and factions than you can keep track of...
, during its extraordinary meeting on Sunday, which was presided over by Prime Minister Dr. Abdulaziz Saleh bin Habtoor, decided to boycott American, Israeli, Swedish, Dutch, and Danish goods in retaliation to abuses of Islamic sanctities.
| Go for it, guys. The outside world won’t notice, and it’ll make no difference domestically, but you’ll feel better having said so. |
The economic boycott decision included the American, Israeli, Swedish, Dutch and Danish goods, and any country that follows the same approach and violates Islamic sanctities in any way.
In its meeting, the Cabinet formed a committee chaired by the Prime Minister and the membership of Deputy Prime Ministers and all relevant ministries to set up a mechanism to boycott the goods of those countries.
The Cabinet approved also the comprehensive media plan, and instructed the Minister of Information to implement it in coordination with the national media system, to achieve its awareness and enlightenment goals regarding the boycott, as a weapon in confronting aggressive actions against the sanctities of the nation.
In this regard, the Cabinet denounced the disgraceful disregard of most Arab and Islamic countries for these violations, which clearly indicates their loss of control and their transformation into tools in the hands of the Western Zionist project.
The Cabinet praised the great stances of the Yemeni people, who came out in an honorable way to express their condemnation and denunciation of burning copies of the Holy Koran in Sweden, as they had previously gone out to express their condemnation of insulting the Prophet Mohammed, peace be upon him.
CIA World Factbook: Yemen economy
Yemen is a low-income country that faces difficult long-term challenges to stabilizing and growing its economy, and the current conflict has only exacerbated those issues. The ongoing war has halted Yemen’s exports, pressured the currency’s exchange rate, accelerated inflation, severely limited food and fuel imports, and caused widespread damage to infrastructure. The conflict has also created a severe humanitarian crisis - the world’s largest cholera outbreak currently at nearly 1 million cases, more than 7 million people at risk of famine, and more than 80% of the population in need of humanitarian assistance.
Prior to the start of the conflict in 2014, Yemen was highly dependent on declining oil and gas resources for revenue. Oil and gas earnings accounted for roughly 25% of GDP and 65% of government revenue. The Yemeni Government regularly faced annual budget shortfalls and tried to diversify the Yemeni economy through a reform program designed to bolster non-oil sectors of the economy and foreign investment. In July 2014, the government continued reform efforts by eliminating some fuel subsidies and in August 2014, the IMF approved a three-year, $570 million Extended Credit Facility for Yemen.
However, the conflict that began in 2014 stalled these reform efforts and ongoing fighting continues to accelerate the country’s economic decline. In September 2016, President HADI announced the move of the main branch of Central Bank of Yemen from Sanaa to Aden where his government could exert greater control over the central bank’s dwindling resources. Regardless of which group controls the main branch, the central bank system is struggling to function. Yemen’s Central Bank’s foreign reserves, which stood at roughly $5.2 billion prior to the conflict, have declined to negligible amounts. The Central Bank can no longer fully support imports of critical goods or the country’s exchange rate. The country also is facing a growing liquidity crisis and rising inflation. The private sector is hemorrhaging, with almost all businesses making substantial layoffs. Access to food and other critical commodities such as medical equipment is limited across the country due to security issues on the ground. The Social Welfare Fund, a cash transfer program for Yemen’s neediest, is no longer operational and has not made any disbursements since late 2014.
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