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Yemen: Bin Dagher Vows Continuous Govt Support to Citizens With Oil Derivatives

Yemen: Bin Dagher Vows Continuous Govt Support to Citizens With Oil Derivatives

Sunday, 23 September, 2018 - 07:30
Bin Dagher attends the seminar in Cairo on Saturday | Saba news agency
Cairo- Asharq Al-Awsat
Yemeni Prime Minister Ahmed bin Daghr vowed on Saturday that his government would continue to cover citizens’ needs of oil products by delivering $10 million per month to the oil company, keeping it from resorting to the market to provide the dollar.

“We reiterate our offer to the Houthis: place all resources at the Central Bank and its branches and we are ready to pay the salaries of all public servants,” he said.

The PM said Houthi rebels collected revenues worth 846 billion Yemeni Riyals last year and pumped it into the market to buy US dollars.

In a seminar held by the national Economic Committee under the slogan "Together We (should) Stabilize the Riyal" in the Egyptian capital, bin Daghr cited a number of Houthi financial abuses that led to the depreciation of the Riyal against the US dollar.

The Saba news agency quoted him as saying that the Sanaa-based coupists "collected the revenues from taxes, customs, and other levies that Houthis made religiously (compulsory) such as the Khomos (fifth of individuals' income)."

"Not taking these funds directly to the central bank and commercial banks …is another cause of the collapse of the national currency," he said referring to Houthi practices.

"The leaders of the Houthi militia injected nearly 200 billion Riyals all at once to the local market to get it replaced with newly printed banknotes and with foreign currencies," he added.

Going chronically backward in the militia's abuses, he said: "After looting the country's reservoir of hard currency, and two trillion Yemeni Riyals and hoarded them all in their stores (starting from 2014), the militia's leaders injected the Riyals again into the market giving the national currency a deep stab."

Bin Dagher said Houthis prevented a number of businessmen, currently residing in Sanaa, from attending the seminar in Cairo.

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