Middle east

Yemen government expressed its reservations about a recent UN Report

Abou a recent report published by a team of experts from the UN Security Council that accused the Yemen Central Bank of laundering money, the Yemeni government showed its reservations.

In fact, Prime Minister Maeen Abdulmalik informed reporters, at a press conference in Aden, that the government has always maintained transparency. He declared that the government’s principle is absolute transparency.

In indication that the methodology for the report was wrong, Abdulmalik stated that he was surprised at how the policy for supporting basic goods in a country suffering from a humanitarian crisis was described as a destructive strategy.

He also evoked that food security was at risk in 2018, and that had pushed Saudi Arabia to provide $2 billion on the central bank in Aden as direct aid to the war-torn country.

Abdulmalik affirmed that the Saudi deposit has greatly alleviated the humanitarian crisis, and added that it had a great impact on stabilizing prices of basic goods and prevented the further depreciation of the Yemeni rial for two years. He also confirmed that supporting basic goods is a long-standing policy of the Yemen Central Bank and that it is a method adopted by many governments when faced with a disruption in exchange rates.

Abdulmalik indicated that the priority is to provide hard currency for food and medicine. He confirmed again that the Saudi deposit was made through extensive and long procedures, adding that if there was indeed a mistake, responsible parties or individuals will be held accountable. He also noted in his defense of the central bank: Whole institutions must not be accused.

Furthermore, the Panel of Experts on Yemen found in its report last week to the UN Security Council, that the central bank had aided a group of Yemeni traders make $423 million in profits from a sophisticated money-laundering scheme of the Saudi deposit and manipulating foreign exchange rules.

While, the central bank has formally dismissed the accusations, it said that the report was based on misleading claims and information diffused by enemies of Yemen.

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