Central Bank says Saudi $2 billion will be deposited after arrangements

Central Bank says Saudi $2 billion will be deposited after arrangements

The Central Bank of Yemen (CBY) said the promised Saudi $2 billion deposit to shore up Yemen's rapidly deteriorating currency will be delivered within the coming week, for certain arrangements have to be made first.

The CBY issued a clarification statement in response to continuing decline in the value of the Yemeni Riyal and spreading media reports that Saudi Arabia has postponed indefinitely its promised deposit.

"The fact is we want to ensure that some administrative and banking arrangements get accomplished as soon as possible; hopefully the signature (on the deposit transaction) will be made within the coming week in the presence of all information media interested to attend."

 

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