The Minister of Information stated that the Houthis have looted $20 billion from Yemenis, leaving millions searching for bread.
Houthi Militia Accused of Stealing Over $20 Billion from Yemen
Minister of Information, Culture, and Tourism Speaks Out
Minister Ma’mar al-Eryani has accused the Iranian-backed Houthi militia of embezzling more than $20 billion from Yemen’s state resources since their takeover on September 21, 2014. He highlighted that the militia has refused to pay salaries for the tenth consecutive year, leaving millions of Yemenis in dire economic conditions as they struggle to find basic necessities like bread.
Widespread Looting of State Resources
In a recent press statement, al-Eryani detailed how the Houthis seized state assets through extensive looting of the central bank’s reserves, the public treasury, and Saudi deposits. They also misappropriated funds from various state institutions, including the General Social Insurance Corporation, and redirected public revenues in their controlled areas to enrich their leaders and finance military operations.
Impact on the National Economy
Al-Eryani pointed out that the militia looted $5 billion from the central bank’s reserves, which were intended to support the economy and stabilize the Yemeni rial. They also took a $2 billion Saudi deposit meant for currencystability. Additionally, they invaded the public treasury, stealing 400 billion Yemeni riyals and appropriating government bonds and treasury bills worth over 5 trillion riyals, equivalent to approximately $9 billion. This funding has primarily supported their military efforts and prolonged their grip on power.
The Plundering of Social Insurance Funds
The minister further revealed that the Houthis misappropriated funds from the General Social Insurance Corporation, including 7.6 billion riyals deposited in the KAC Bank in Sana’a and 15.5 billion riyals in current accounts. They also seized hundreds of millions of riyals from the corporation’s cash reserves and investments.
Declining Public Revenue
Al-Eryani noted that the militia has taken control of non-oil public revenues in their territories, which amounted to 920 million riyals in 2017, 957 million riyals in 2018, 969 million riyals in 2019, and 649 million riyals in 2020. Furthermore, they looted $435 million allocated by Saudi Arabia for social welfare and $100 million from the United States intended for social security, all while halting salaries for 1.5 million social security beneficiaries in the country.
Consequences of Systematic Theft
The minister emphasized that this systematic looting has led to the collapse of Yemen’s economy, resulting in liquidity shortages, rising inflation, and worsening unemployment and poverty. The militia has used these stolen funds to finance their war against the Yemeni people, recruit child soldiers, buy loyalty, and further their terrorist agenda both within Yemen and abroad. Notably, these funds have not been allocated for paying salaries, improving services, or building schools and hospitals.
Call for International Accountability
Al-Eryani asserted that these economic crimes by the Houthis amount to organized theft and illicit enrichment, warranting international accountability. He called for the prosecution of militia leaders as war criminals in specialized international courts and urged the classification of the Houthis as a terrorist group, given their use of looted funds to finance terrorism and prolong the suffering of the Yemeni people.
For more details, visit Yemen TV.
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