CBY Governor: Efforts exerted to print banknotes

CBY Governor: Efforts exerted to print banknotes

Governor of the Central Bank of Yemen Munasar al-Quaiti has affirmed that the Yemeni governorate exerted big efforts to print banknotes.

According to al-Quaiti, the printing of banknotes will solve problems and activate the state institutions.

Yemen’s economic situation is so dire that the banking sector is suffering a severe shortage of cash that left many public sector employees without their much needed salaries.

The Houthis are believed to be largely responsible for the withdrawal of the 300 billion Yemeni rials from the banking system, by stashing banknotes outside official channels, and given their dominance over the shadow economy.

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