Local News

SEMC Calls for a Unified Monetary Policy

The Studies and Economic Media Center (SEMC) called for the need to urgently end the division in the management of monetary policy in the country and to cancel all unilateral measures that negatively affected the stability of the Yemeni currency, warning that the persistent depreciation of the national currency will inevitably lead to disastrous economic results.

The Economic Bulletin issued by SEMC covered several aspects of this ongoing conflict between the two poles of the Central Bank of Yemen in both Sana'a and Aden, pointing out that such conflict will have dire consequences on the lives of the Yemeni people and on the economic and humanitarian conditions as well as on the political situation.

The bulletin provides recommendations calling on all rational people to work towards a unified monetary policy and an independent CBY management that preserves the value of the currency and supervises the banking sector from a professional standpoint in accordance with international financial standards.

In its current issue, the Economic Bulletin quarterly issued by SEMC focused on the conflict between the two poles of the CBY in Sana'a and Aden, the depreciation of the national currency, and delved into the background of the conflict and its repercussions on all levels.

SEMC warned against using the monetary policy as a tool in the war because of its direct repercussions on the interests of people and their sources of livelihood.

It also expressed its regret over plunging of the banking sector in political disputes, underscoring the importance of conforming to the Central Bank of Yemen Law, which guarantees the independence of the bank operation.

It is noteworthy that SEMC is a non-profit civil society organization promoting a successful and transparent economic system through training and raising the citizens’ awareness of economic issues, and enhancing transparency and citizen participation in decision-making. It promotes professional media and economic empowerment of youth and women and enhancing their role in peacebuilding



Category :
  • Local News