black market cuts 54 of humanitarian aid financial value
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Amid crisis

Black market Cuts 54% of humanitarian aid financial value

Arab Today, arab today

Arab Today, arab today Black market Cuts 54% of humanitarian aid financial value

Dr. Mansour al-Butani
Aden - Arabs Today

Yemeni Ministry of Finance revealed that the international financial aid coming through humanitarian organizations to Yemen arrives in the American dollar but the amounts are not deposited in banking accounts until being exchanged in the black market, making them lose 54 percent of their value. 
Yemen's Deputy Minister of Finance Dr. Mansour al-Butani said during a phone call that no accounts were opened for any international organization in the central bank, therefore this process is not managed by the Ministry of Finance.“I hope that donors pass their aid via the central bank, under the supervision of the Ministry of Finance so that the amounts can be registered in the state’s public account and handled correctly," he declared.
In the same context, a financial source revealed to Asharq Al-Awsat that all exchange institutions in Houthis-ruled regions reject until today to implement the decision of currency floating because they want to exploit the difference between the official value and the value imposed by the black market.
The source, who preferred to remain anonymous, said that the difference between official value and the black market one exceeds 135 riyals in cash and more than 245 riyals in cheques. International organizations offices witnessed the disappearance of USD702 million in Yemen during nine months of this year out of USD1.3 billion allocated for the Yemeni people.
President of the Studies Economic Media Center (SEMC) Mustafa Nasr explained that there is no definite destination of the amounts earned from the exchange rate difference, which exceeds 135 riyal for every dollar. This means that the total difference reaches USD702 million. 
In a related matter, an official of financial affairs in Houthis-ruled regions noted that the possibility of opening accounts in the central bank for the aid was suggested but the idea wasn’t welcomed by several organizations.
 

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

black market cuts 54 of humanitarian aid financial value black market cuts 54 of humanitarian aid financial value

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

black market cuts 54 of humanitarian aid financial value black market cuts 54 of humanitarian aid financial value

 



GMT 21:16 2016 Monday ,27 June

Zaki Badr discusses cleaning problem in Giza

GMT 21:46 2017 Saturday ,14 January

Turkey arrests 60 businessmen for alleged Gulen ties

GMT 22:38 2017 Friday ,24 March

Abbas meets with Merkel in Berlin

GMT 09:02 2017 Monday ,27 March

Tunisian Premier Concludes Visit to Sudan

GMT 15:54 2017 Friday ,01 September

Attorney General Directs Prosecutors to inspect Prison

GMT 09:22 2017 Sunday ,31 December

HM King condoles with Afghanistan President

GMT 10:12 2016 Wednesday ,06 April

Strong dollar, mild weather shrink H&M profits

GMT 17:03 2016 Saturday ,24 December

7 police killed in attacks in Afghansitan

GMT 13:51 2017 Friday ,17 March

Israel denies Syria shot down a warplane

GMT 04:08 2017 Thursday ,05 January

Carbon tax can fund clean energy transition

GMT 19:27 2016 Wednesday ,14 September

Alstom to go ahead with plans to shut down Belfort plant

GMT 01:44 2017 Friday ,15 December

Mennat-Allah underlines importance of landscapes

GMT 04:57 2017 Thursday ,14 December

Trump tells NASA to send Americans to Moon

GMT 21:43 2017 Wednesday ,11 October

Qabil discusses with Swiss delegation improving power

GMT 21:06 2017 Sunday ,17 September

OIC condemns suicide attack in Kabul

GMT 08:27 2017 Thursday ,27 April

Nokia reports another loss as networks sag

GMT 19:41 2017 Monday ,06 February

Elina Svitolina Claims Taiwan Open Title

GMT 09:39 2017 Friday ,03 February

Former Brazilian president Lula's wife dies of stroke
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday