Hadi Appoints Saleh Era Economic Policy Aide

Hadi Appoints Saleh Era Economic Policy Aide

Friday, 10 August, 2018 - 12:45
Abdrabbuh Mansour Hadi Mansour, President of the Republic of Yemen, addresses the 72nd United Nations General Assembly at U.N. headquarters in New York, U.S., September 21, 2017. REUTERS/Lucas Jackson
Aden - Asharq Al-Awsat
Yemeni President Abdrabbuh Mansour Hadi surprised politicians and party elites by issuing a republican decree on Thursday appointing one of the most prominent aides of the late President Ali Abdullah Saleh, Hafez Fakhir Moyad, as his personal adviser and chairman of the Economic Committee.

Hadi sought Moyad’s appointment to help save the national economy and currency from continuing its downward spiral.

The decision was praised by economists. Some considered it wise for Hadi to restore General People's Congress officials and use their experience in rebuilding state institutions, while others considered it a smart move to attract foreign leaders close to the late president in the context of bridging the gap between them and his government.

Moyad's appointment, however, was ill-received by party activists opposed to Saleh's regime, accusing Hadi of trying to restore the former regime.

According to well-informed sources, Moyad took over the management of Saleh’s personal funds and worked on investment in companies, banks and investment projects in a number of countries.

Moyad has been traveling back and forth between Amman and Cairo and a number of regional capitals after the Iran-backed Houthi militias seized power in Yemen.

Regardless of the role that Moayad will play in his new position as head of the national economic committee, it will give him broad powers in managing the economic affairs, drawing up plans and overseeing their implementation.

This post allows him to supervise the performance of ministries of finance, oil, and minerals, industry, trade, agriculture, and fisheries.

The Yemeni economy has taken a turn for the worse with the national currency plummeting against sky-rocketing commodity prices.

Hadi also appointed Nabil Hassan al-Faqih, another politician who served in Saleh's regime, as minister of civil service and insurance. Faqih had sided with Saleh’s opponents in 2011.

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