External support without internal reforms is the Great Yemeni Collapsing industry
English - Thursday 22 November 2018 الساعة 02:54 pm
Aden-Newsyemen
The international financial system imposes a tight siege on the Yemeni banking sector, at a time Hadi's government has not fulfilled its obligations to faltering financial sector, leaving the Yemen's economic problems on the worlds' countries to solve them.
Hadi's government ignores the banking sector, which suffers from a crisis that has put it into a complex coma and has been unable to meet its obligations or perform its basic functions.
Foreign currencies are stacked in local banks where banks are unable to get them out of the country and exchange them into dollars so as to feed their accounts with their outside correspondents.
The Quartet on the Yemeni economy is fighting, Britain, America, Saudi Arabia and the United Arab Emirates to support the dilapidated economy. Now it has called on Hadi's government to support it from inside.
"The value of the Yemeni riyal and the economic situation in Yemen remains fragile, which need more efforts to preserve to keep what have been achieved".
With external solutions without internal solutions, the economy remains intruder to the aid of others.
Financial expert Sultan al-Saghir said to #Newsyemen that the Yemeni banking system faces serious and interrelated challenges, and deep risks, foremost among which is that the collapse of confidence with the international financial system as well as restrictions on transferring of currency whether internally or externally.
