On Tuesday, in the capital, Aden, the Economic and Service Authority in Southern Transitional Council's Presidium held its periodic meeting, headed by Dr. Ahmed bin Sankar, Deputy Chairman of the Authority.

The Economic and Service Authority's meeting discussed a number of topics on its agenda, most notably the challenges and obstacles of the banking sector before and after the outbreak of war in 2015, the decline in foreign currency reserves, in addition to the scarcity of liquidity and the difficulties in facing the inability to pay salaries to the state sectors in general, as a result of the Central Bank’s confusion in Sanaa starting in 2011 as a result of the events that struck the country.

The meeting continued, that after the outbreak of war in 2015, and the terrorist Houthi militia took control of the Central Bank and financial institutions, the Central Bank was transferred to Aden many problems and difficulties emerged, represented by the printing of no less than 2 trillion Yemeni riyals, the issuance of a decree to completely float the Yemeni riyal, and the successive change of the bank’s governors, which led to a loss of confidence in the banking sector.

The meeting also discussed the nature of possible treatments and scenarios regarding the future of the Central Bank in light of the regional and international movement heading towards ending the war and developing economic arrangements consistent with this trend.