Deputy Governor of the Central Bank of Yemen Abbas Ahmed al Basha urged the governors of Arab central banks and monetary institutions to support Yemen to render successful the step of moving the Central Bank of Yemen HQ from the militias-held capital Sanaa to the temporary capital Aden.

During a meeting of the governors of Arab central banks and monetary institutions that opened in Morocco on Thursday, Basha explained that the presidential decree on moving the Central Bank premises and restructuring its board was triggered by the rapid deterioration of the State's economic performance in view of rising prices, shortage of staple commodities, local currency exchange rate drop and failure to pay salaries as well as foreign and domestic debts since August.

Despite such dangerous indications, the government was wise during the past period in dealing with the Central Bank and tried to maintain its independence and impartiality, he said, adding that the situation reached a perilous stage that could lead to the collapse of the national economy and monetary mechanism.

The Yemeni governmental news agency said the governors of Arab central banks welcomed the step of moving the Central Bank's HQ and stressed their preparedness to offer all needed help to render the step successful. 

Source: MENA