Nasr: The exchange rate is important today, and Farouq: to stop using the currency as a kneeling weapon .. Yemenis and the riyal wars
English - Sunday 13 December 2020 الساعة 09:22 am
Aden, NewsYemen, Exclusive:
At a time when the riyal collapsed, the official and private financial institutions continued their battles against each other, the latest of which was related to the performance of the central bank with two headquarters, with contradictory performance in both Aden and Sana’a, the national division and its private company, and the government did not announce any action or even position on negative developments which affected the lives of citizens.
The economist and head of the Economic Studies and Media Center, Mustafa Nasr, commented on the lackluster performance of President Hadi's government in the face of a serious deterioration of the Yemeni riyal, saying, "Words fail to describe the misery and impotence that the internationally recognized government has reached regarding the deterioration of the riyal's price."
He held everyone responsible for the deterioration, including the coalition, in addition to the Houthi militia, which, according to him, punishes the citizen for not properly handling the new edition of money.
In his question about the feasibility of this controversy and these clarifications and reports as long as the country is without currency, Nasr confirmed to "Newsyemen ", "We need fundamentals regarding the monetary policy of the banks or the banking sector, and we need at the present time to preserve the price of the riyal and to have serious operations for the independence of banking. "
Normal reaction
For his part, journalist Farouq Moqbel told "NewsYemen", the country has an internationally recognized currency, but the problem with making this currency a tool of war between two parties fighting over influence.
Warning that they would not accept anything that could be turned into a weapon through which the other side could kneel, including the currency that does not mean X or Y of people as much as it means an entire people whose population may exceed 28 million living on the verge of starvation.
Farouq, in his speech, added, "I agree with your question that the Yemeni currency (the riyal) needs an urgent rescue and the first rescue step is to stop its use as a weapon."
The other thing that Moqbel focused on is: for the (internationally recognized) government to stop floating the price of the dollar in order to withdraw hard currency from the Houthi government, and for the Houthi government to stop in return from preventing the circulation of the (new edition) of the different denominations of the riyal.
He concluded his suggestion that the government in Aden should redistribute the cash block to the branches of the Central Bank in all governorates and pay salaries at that time.
