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ERT presents proposals to reduce the economic effects of COVID-19

The Economic Reform team (ERT) revealed the Economic Repercussions of Coronavirus Disease (COVID-19) on the Yemeni economy, notably the shortage of goods and supplies, the decrease in remittances of Yemeni expatriates abroad, and losses in the tourism and service sector .
ERT, a voluntary initiative comprising private sector leaders, civil society representatives and economists and economic experts, called for setting up an unified entity by authorities in Aden and Sana’a to manage the crisis so that the team is empowered to take decisive decisions and work jointly to limit the repercussions of the pandemic on the Yemeni people and mitigate the disaster , stressing the importance of undertaking an immediate ceasefire and stopping all military operations, so that the energy of all Yemenis shall be directed to face this serious pandemic based on an unified mechanism between international organizations and the private sector .
In the position paper " Economic Repercussions of Coronavirus Disease (COVID-19) & Methods of Mitigation of Risks “ ERT presented several priorities and responsibilities that shall be adopted by all concerned parties (the authorities, the international organizations and the private sector ) .
Also ERT indicated to the package of economic policies that seek to alleviate the serious economic consequences of the pandemic, such as the cancellation of the decision to ban dealing in the newly printed Yemeni currency banknotes, while completely stopping any new banknote prints , the prompt payment of salaries of Yemeni public employees by the Yemeni government in all regions of Yemen to enable them face the repercussions of the pandemic , and the facilitation of procedures for importing food and consumer products through Yemeni ports and ensuring the smooth flow of goods, while taking the necessary measures to ensure safety and quality of products through speeding up customs clearance procedures and cargo handling in Yemeni ports and customs ports.
The position’s paper included a number of priorities urging the international organizations to undertake a real and serious efforts to found a common entity in Aden and Sana’a to manage the crisis , where International organizations shall undertake their responsibility to save the Yemeni people from COVID-19 by providing support to import all preventive equipment, devices and medicines necessary to fight the pandemic.
The Team emphasized that private sector should shows highest level of responsibility by providing goods to citizens at the lowest prices possible.


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