The pro-coalition government of Maeen Abdulmalik failed to stop the ongoing bleeding of the local currency.
The price of the dollar reached 1,510 riyals in the areas theoretically controlled by the pro-coalition government, in light of the serious and ongoing bleeding of the local currency.
Maeen’s government rejected austerity proposals in light of the absence of foreign exchange resources and the failure of local revenues to reach the treasury of the Central Bank in Aden.
Sources said that economic proposals were submitted to the government that included a number of austerity measures, including reducing diplomatic missions abroad and stopping allocations for leaders, which burden the public treasury.
The sources added that Maeen’s government failed to implement previous measures to limit the collapse of the currency and reform revenue sources in light of the local authorities’ refusal to send revenues to Aden.
