The transfer of the Central Bank of Yemen (CBY) to Aden in 2016 has slowed remittance flows, almost stopped payment of salaries, caused the currency to collapse, and worsened inflation. All these actions have contributed significantly to increased poverty but have also allowed senior central bank and other officials to make millions from manipulating exchange rates and operating black markets. The transfer of the CBY resulted in the existence of two rival central banks vying to control the currency and trade. The increasing shortage of old bank notes in this part of the country, is yet another problem for daily life. The UN usually publishes annually its Humanitarian Response Plan (HRP) and a needs assessment, towards the end of the year.

Source: The North Africa Journal February 07, 2020 00:45 UTC