Yemen's PM warns of economic collapse

Record ID: 103030

  • Title: Yemen's PM warns of economic collapse
  • Date: 18th May 2016
  • Summary: RIYADH, SAUDI ARABIA (MAY 18, 2016) (REUTERS) ****WARNING CONTAINS FLASH PHOTOGRAPHY*** VARIOUS OF YEMEN PRIME MINISTER, AHMED OBEID BIN DAGHR, AND OTHER OFFICIALS SEATED (SOUNDBITE)(Arabic) YEMEN PRIME MINISTER, AHMED OBEID BIN DAGHR, SAYING: ''The country lives in a state of terrible economic and monetary collapse, the Houthis and Saleh have used almost three billion dollars, that used to represent most of the cash reserves in the country. They used this reserve in the war effort to seize state power, and the coup against the republic, unity, and the management of the war.'' VARIOUS OF OFFICIALS SEATED AROUND TABLE EXTERIOR OF RIYADH CONFERENCE PALACE
  • Embargoed: 2nd June 2016 14:53
  • Keywords: Yemen conflict Saudi Arabia
  • Location: RIYADH, SAUDI ARABIA
  • City: RIYADH, SAUDI ARABIA
  • Country: Saudi Arabia
  • Topics: Conflicts/War/Peace
  • Reuters ID: LVA0014IC545X
  • Aspect Ratio: 16:9
  • Story Text: Yemen's Prime Minster, Ahmed Obeid bin Daghr, warned on Wednesday (May 18) that Yemen is teetering on the edge of economic collapse, accusing the country's former president, Ali Abdulla Saleh of spending the country's reserves.
    ''The country lives in a state of terrible economic and monetary collapse, the Houthis and Saleh have used almost three billion dollars, that used to represent most of the cash reserves in the country. They used this reserve in the war effort to seize state power, and the coup against the republic, unity, and the management of the war,'' said Daghr speaking at a news conference in the Saudi capital Riyadh.
    A Saudi-led coalition began a military campaign in Yemen in March last year with the aim of preventing Iran-allied Houthi rebels and forces loyal to Yemen's ex-President Saleh from taking control of the country.
    More than 6,200 people have been killed in the conflict, half of them civilians.
    U.N. aid operations director John Ging told reporters in New York that more than 10 million people rely on international support for basic medical services.
    On Tuesday (May 17), the United Nations said humanitarian aid appeal for $1.8 billion for Yemen was only 16 percent funded and some 7.6 million people were on the verge of famine in the war-torn impoverished Arabian Peninsula state.
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