Yemen's president Hadi names new central bank governor

By Kitco News / February 11, 2018 / www.kitco.com / Article Link

RIYADH, Feb 11 (Reuters) - Yemen's President Abd Rabbuh Mansur Hadi appointed former finance minister Mohammed Zammam as head of the central bank, the state-run Saba news agency reported on Sunday.

Yemen has been divided by nearly three years of civil war between the internationally recognised government, backed by Riyadh, based in the south, and the Iran-aligned Houthi movement which controls the north, including the capital Sanaa.

Its currency, the rial, has lost more than half its value against the dollar and soaring prices have put some basic commodities out of reach for many Yemenis.

In January, Saudi Arabia's King Salman ordered a deposit of $2 billion be paid into Yemen's central bank to prop up the weak currency.


(Reporting by Marwa Rashad; Editing by Noah Browning and Robin Pomeroy)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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