Yemen's Central Bank expects a $3 billion cash injection from Gulf allies Kuwait and the UAE as the country seeks to prop up its sagging economy, AFP reported Thursday (December 13th).
The deposits, if confirmed, would follow a $2.2 billion infusion by Saudi Arabia to stem a slide in the Yemeni riyal as the country reels from an economic downturn.
"Central Bank governor Mohamed Zemam has spoken of additional deposits worth $3 billion after talks with sisterly donor countries," Deputy Central Bank chief Shokeib Hobeishy said.
"I believe two (billion) will come from the UAE... and another billion from Kuwait," Hobeishy said.
There was no immediate comment from the Gulf nations.
A day earlier, Yemeni Prime Minister Moeen Abdulmalik Saeed had declined to name the potential donors, saying he would not give out details until the expected injection is confirmed.
The Central Bank, whose headquarters were moved to Aden in 2016 from Sanaa, which is held by the Iran-backed Houthis (Ansarallah), has struggled to pay government salaries and revive the war-battered economy.
Saudi Arabia deposited $200 million in Yemen's Central Bank in October, and previously deposited $2 billion in January to boost the currency.
The riyal has lost more than two-thirds of its value against the dollar since 2015. It has made a partial recovery in recent weeks, but the weakened currency has left many unable to afford food staples.
