In a recent meeting, Yemen’s Prime Minister, Dr. Shaya Zindani, reaffirmed the government’s unwavering commitment to upholding the independence of the Central Bank of Yemen. He stressed that enhancing the bank’s autonomy is crucial for enabling it to fulfill its mandate of maintaining financial and monetary stability—essential components for rebuilding confidence in the national economy.
The meeting, which took place on Wednesday, convened members of the Central Bank’s Board of Directors, led by Governor Ahmed Ghaleb al-Maabqi. Participants engaged in discussions regarding recent financial and monetary developments and outlined strategic priorities for the upcoming phase amid ongoing economic challenges.
During this session, Prime Minister Zindani received a detailed briefing from the Central Bank Governor on performance indicators from the first quarter. The report covered vital areas such as internal and external balances, public budget execution, and foreign exchange reserves. It also assessed the broader economic repercussions of regional crises, particularly concerning transportation costs, insurance rates, and prices for energy and essential goods.
Attendees reviewed outcomes from the Central Bank Board’s third session, emphasizing decisions aimed at bolstering monetary policy tools and improving institutional efficiency. Discussions also considered proposed measures to alleviate liquidity constraints while focusing on adopting sound economic frameworks that align with market dynamics and current realities.
Prime Minister Zindani reiterated the government’s commitment to fully supporting the Central Bank. He highlighted the significance of preserving its decision-making independence while enhancing operational capacity. He underscored the necessity for closer coordination between fiscal and monetary policies to effectively tackle economic challenges and facilitate recovery efforts.
Governor Ahmed Ghaleb al-Maabqi expressed gratitude for the ongoing support from both the Presidential Leadership Council and the government. He noted that such backing is essential for ensuring that the bank operates effectively and independently. Al-Maabqi reaffirmed the Central Bank’s dedication to implementing policies aimed at improving economic indicators and fostering stability in the near future.
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