Saudi Arabia confirms $2 billion transfer to Yemen’s central bank

houthi-rebels-in-sanaa-yemen
Houthi rebels in Sana'a

Saudi Arabia’s finance minister publicly signed an agreement to deposit $2 billion with the central bank controlled by one of the factions in civil war-hit Yemen, according to the Saudi news agency.

The $2 billion deposit was originally announced in mid-January by the Saudi ambassador to Yemen, but recent reports by Arab media sources suggest that the money has not been deposited. The Central Bank of Yemen has a significant need for hard currency in order to stem the slide in the Yemeni rial

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