Al-Zubaidi warns: The Presidential Council will collapse if it is not bailed out financially by the coalition countries

English - Monday 22 May 2023 الساعة 05:59 pm
Aden, NewsYemen, exclusive:

Major General Aidaroos Al-Zubaidi, warned of the collapse of the system of government represented by the Presidential Council and the government in the event that the Arab coalition countries do not intervene to support it financially.

Al-Zubaidi said in a televised interview with Al-Ghad Al-Mashreq channel that the economic conditions are very difficult due to the cessation of oil exports 7 months ago due to the attacks launched by the Houthi militia on the export ports.

Al-Zubaidi acknowledged that the Presidential Council was helpless regarding the issue of re-exporting oil, and that he had to work on re-exporting in any way, stressing that the matter is not difficult.

However, he said that the matter is related to the government, which he said has become incapable of doing anything or standing in these difficult economic conditions, noting that the Presidential Council tried to support the government to no avail.

Al-Zubaidi indicated in his speech that there is a conviction that the survival of the government has become "a matter of time and another rescue government may come." At the same time, he denied the existence of any agreement so far within the Presidential Council to change it, but he warned of a street uprising and said: If we do not make a quick change, it will collapse. the situation.

Al-Zubaidi’s warnings come in light of the increasing indications and statements of the worsening economic and financial crisis that the government is suffering from as a result of stopping oil exports, and the failure of its attempts to contain this, in light of the large deficit in its budget for the first half of this year, which amounted to 35%.

Early last week, the Central Bank in Aden warned of increasing pressures on the limited resources of the government with the continued halt of the oil export process, and said that this caused the level of many services to drop to its minimum limits and the inability to fulfill the inevitable financial obligations of the government.

During the past days, the local currency in the liberated areas witnessed a noticeable decline against hard currencies after months of stability, as the exchange rate of the US dollar exceeded the barrier of 1300 riyals, while the exchange rate of the Saudi riyal approached about 350 riyals.

Al-Zubaidi's statements came hours before the members of the Presidential Leadership Council arrived in the Saudi capital, Riyadh, amid talk about meetings with the Saudi side to discuss the possibility of providing financial support by the coalition countries to confront the financial crisis that the government is suffering from.