Protest in Taiz City Against Economic Deterioration and Currency Collapse
Recently, dozens of people in Taiz city took to the streets in a protest against the economic deterioration and the catastrophic collapse of the local currency against foreign currencies. The demonstrators demanded the coalition-backed Aden government to step down due to its failure to halt the continuous devaluation of the local currency against the US dollar.
During the protest, banners were raised highlighting the impact of the currency collapse on the prices of basic food commodities, leading to an unprecedented rise in prices. This led to many shop owners closing their shops in a general strike, causing a complete commercial paralysis in the city.
In a similar vein, citizens in Lawdar city in Abyan province also closed exchange shops and companies in protest against the manipulation of the local currency prices. The central bank’s deputy director in Aden acknowledged the economic challenges faced by the country, promising to use monetary policy tools to address the situation.