The local currency in Aden and other parts of southern and eastern Yemen continues to plummet against foreign currencies, with the dollar exceeding 1,921 Yemeni riyals and the Saudi riyal surpassing 500 riyals.
This steep decline raises concerns of an impending economic crisis, as experts blame the coalition government’s reckless financial policies, including the printing of 6 trillion riyals without proper backing between 2016 and 2021.
The failure of the government to implement effective economic reforms has led to severe consequences for the citizens, pushing many into extreme poverty and potential famine.
As the situation worsens, urgent actions are needed to stabilize the currency and prevent further economic turmoil in the region.
YPA
\
[ad_2]
Source link
