FAO recognizes the stability of the economic situation in Sana’a and its deterioration in Aden

Posted on July 26, 2023

A recent UN report warned of the exacerbation of economic risks in Yemen, with the possibility of a return to violence, climate crises, developmental weakness, and low resilience, stressing that without appropriate measures to mitigate these very high risks, the economic conditions are likely to deteriorate further.

A report issued by the Economic and Social Commission for Western Asia of the United Nations (ESCWA), on Tuesday, said: “Yemen was rated in terms of economic risks as remarkable, with a high level of fragility (about 0.61) and a low level of vulnerability (about 0.34).”

It pointed out that “one wave of decline after another has hit the value of the Yemeni riyal over the past decade as a result of the disruption of economic activity and political instability,” stressing that “the division of the Central Bank of Yemen after the decision of the aggression coalition and its mercenaries to transfer it from the capital, Sana’a, to the occupied city of Aden in 2016 AD, led to the determination of two currency rates, and as a result public institutions were divided, and monetary and financial policies varied.” .