A Yemeni presidential official: Conflicts between the Leadership Council and the government have contributed to the continued collapse of the national currency.

A Yemeni presidential official confirmed that the ongoing conflict between Presidential Leadership Council Chairman Rashad al-Alimi and Prime Minister Ahmed Awad bin Mubarak has contributed to the continued collapse of the national currency.

Al- Araby Al-Jadeed newspaper reported in a report on Thursday that the Yemeni riyal fell to its lowest level in history in areas controlled by the internationally recognized government, with the dollar trading at 2,366 riyals for purchase and 2,383 riyals for sale. The Saudi riyal also reached 621 Yemeni riyals for purchase and 624 riyals for sale.

The newspaper explained that the Yemeni economy is facing significant challenges that have contributed to the collapse of the exchange rate. These challenges include the escalating crisis between the Presidential Leadership Council and the head of the internationally recognized government, coupled with the repercussions of the economic crisis, including a lack of resources and the suspension of oil and gas exports. This has led to a collapse in the currency exchange rate, rising prices, and a deterioration in services, most notably electricity.

A Yemeni presidential source, speaking on condition of anonymity, reported that there are conflicts within the legitimate government's leadership between the head of the Presidential Leadership Council, Rashad al-Alimi, and a number of government ministers on the one hand, and Prime Minister Ahmed Awad bin Mubarak, who is backed by ambassadors from several regional and Western countries, on the other.

The source added that the Prime Minister is seeking to replace seven ministers who have accused him of failure and responsibility for the deteriorating economic and living conditions, as well as his failure to approve a general state budget. They are exerting pressure on the Leadership Council to replace the Prime Minister, while Ben Mbarek is seeking to replace them even though they represent political parties and were appointed according to a political distribution. The ministers in question are: Youth and Sports, Local Administration, Health, Endowments, Legal Affairs, Defense, and Oil. This conflict has disrupted government meetings and paralyzed its ability to carry out its duties.

Meanwhile, Prime Minister Ahmed bin Mubarak held a meeting on Wednesday with the leadership of the Central Bank of Yemen and the Ministries of Finance and Oil to discuss the financial, economic, monetary, and service conditions.

According to the official Saba News Agency, the meeting discussed coordinated measures with the Presidential Leadership Council to strengthen the national currency and integrate fiscal and monetary policies to control the exchange rate and its dangerous repercussions on citizens' livelihoods.

The meeting discussed plans to secure the local market's needs for petroleum products and domestic gas in all governorates, with the implementation of the ban on the Houthi group's import of petroleum and gas derivatives, coinciding with its designation as a foreign terrorist organization. The meeting also discussed integrated plans to supply power plants with the petroleum derivatives they need for operation, and ongoing preparations for the upcoming summer.

Al-Araby Al-Jadeed