Tags: ML | Saudi | Arabia | Yemen

Saudi Arabia to Transfer $2 Billion after Urgent Yemen Plea

Wednesday, 17 January 2018 04:38 AM

RIYADH, Saudi Arabia (AP) — Saudi Arabia's King Salman has ordered a transfer of $2 billion to Yemen, a day after the war-torn country's Saudi-backed prime minister called on the kingdom and its allies to save the local currency from "complete collapse."

Saudi Arabia said in a statement on Wednesday that funds would be deposited in Yemen's Central Bank to help address the "deteriorating economic situation faced by the Yemeni people."

The Saudi and internationally-backed Yemeni government created an alternative Central Bank from the one in Yemen's rebel-held capital of Sanaa, moving it to the southern port city of Aden last year.

Yemen's war began nearly three years ago when a Saudi-led coalition began carrying out airstrikes against Yemeni rebels, known as Houthis, after the rebels overran Sanaa and forced Yemen's government into exile.

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Saudi Arabia's King Salman has ordered a transfer of $2 billion to Yemen, a day after the war-torn country's Saudi-backed prime minister called on the kingdom and its allies to save the local currency from "complete collapse."Saudi Arabia said in a statement on Wednesday...
ML,Saudi,Arabia,Yemen
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2018-38-17
Wednesday, 17 January 2018 04:38 AM
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