Aden Centeral bank exacerbates economic and living paralysis with its public auctions amid the silence of legitimacy
English - Monday 15 November 2021 الساعة 02:43 pm
Aden, NewsYemen, special:
The Central Bank in the capital, Aden, announced that it will offer $15 million in a new auction for banks on Tuesday.
The Central Bank stipulated that the bid be limited to multiples of one thousand dollars, stressing that the bid value should not exceed 20% of the total auction value.
The local currency continues to collapse on a daily basis, and the Yemeni riyal broke the barrier of 1500, while it crossed the barrier of 400 for the Saudi riyal, amid an unparalleled economic crisis that caused the price of foodstuffs to ignite by 100%, and is increasing on a daily basis, which has become a great burden on middle-income citizens, so how In the case of people with limited income.
Citizens complained to NewsYemen that they omitted breakfast and dinner and were content with one meal in the afternoon in order to save money for a meal that is very simple and not satiating at all.
The governor of the capital, Aden, Ahmed Hamed Lamlas, is trying to stand up to the dire economic situation with a number of decisions, including subsidizing bakeries in all districts and controlling the prices of vegetables and fish, but they did not benefit completely, especially the prices of foodstuffs, which reached insane amounts.
In the context of education, the increase in transportation has exhausted the families of university students, who require two thousand riyals a day to go to colleges amid a collapse in living and government salaries that do not exceed $40, coinciding with the inability of young people to work with the scarcity of jobs, whether governmental or private.
Economists accused the Central Bank of the public auction that it is holding of compounding the crisis, ignoring the people’s pain, amid the silence of the legitimate government, the first and last beneficiary of these speculations, and the main cause of the fake exchange crisis after its extravagance by printing the local currency without a cover continuously.
The previous auction of the dollar witnessed coverage of 50% of the value of the amount offered, while the prices of hard currency rose in the exchange markets, in a total inability to control the black market.
