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Arabia |
Facing Possible Currency Collapse, Aden Central Bank Cuts Off '’Inflationary Financing'' to Pro-Coalition Government |
2023-01-31 |
[HODHODYEMENNEWS.NET] The Central Bank in Aden on Monday revealed negative repercussions facing the local currency in the areas controlled by the Saudi-led coalition in southern Yemen ...an area of the Arabian Peninsula sometimes mistaken for a country. It is populated by more antagonistic tribes and factions than you can keep track of... , in reference to a new expected collapse of the currency. During its meeting, Monday, to address this problem the bank indicated its decision to stop what it described as "inflationary financing," stressing the need to take measures to confront the expected collapse wave. The local currency lost much of its value in recent days, with the decision of the Aden Central Bank to raise foreign exchange rates within its weekly auctions to more than 1,250 riyals per dollar. The warnings of the Aden bank came a day after the President of the Riyadh-formed "Presidential Council" Rashad al-Alimi’s statements upon his arrival in Aden, in which he promised to improve conditions in the areas controlled by his government that are experiencing an unprecedented collapse. In the southern provinces under the control of the coalition, economists expect the local currency to exceed the barrier of 2,000 riyals to the dollar. |
Posted by:Fred |
#3 Commercial banks fund their pet politicians. No telling how much Hillary got from Goldman Sachs...for sure $200,000 for a 30-minute "talk". |
Posted by: DooDahMan 2023-01-31 08:21 |
#2 ^ Commercial banks in the US do not finance the gummint. The Fed takes care of that, and the commercial banks hide under those nasty skirts. |
Posted by: M. Murcek 2023-01-31 08:06 |
#1 Will the US Fed and theTop 10 US Bankss do the same here eventually. As many have 100's of Billions vested worldwide. eg. JPMorgan & Chase Bank</em> |
Posted by: NN2N1 2023-01-31 08:05 |