The Central Bank Governor discusses strengthening cooperation with Germany.
- Central Bank Governor Ahmed Ghaleb met with German Ambassador Thomas Friedrich Schneider in Aden.
- Discussions focused on Yemen's economic challenges and the need for monetary stability.
- Ghaleb emphasized implementing precautionary monetary policies to support essential state functions.
- Ambassador Schneider reaffirmed Germany's commitment to supporting Yemen's economic stability and development.
Central Bank Governor Discusses Economic Cooperation with Germany
In a recent meeting in the temporary capital of Aden, Ahmed Ahmed Ghaleb, the Governor of the Central Bank of Yemen, engaged with Thomas Friedrich Schneider, the German Ambassador to Yemen. They focused on the latest developments in Yemen’s economic and financial situation, exploring ways to enhance cooperation to support monetary and banking stability in the country.
Current Economic Challenges
During their discussion, Ghaleb highlighted the current economic developments and the challenges facing the national economy. These challenges arise amid exceptional circumstances, including regional tensions that negatively impact shipping and insurance costs, as well as energy and essential goods prices. Such factors exert additional pressure on public finances and the banking sector.
Monetary Policies for Stability
Ghaleb emphasized the Central Bank’s commitment to implementing realistic and precautionary monetary policies. These policies aim to maintain a minimum level of economic stability and safeguard the financial system. Additionally, these efforts include ensuring the continuity of essential state functions, such as financing the import of basic goods and meeting citizens’ needs.
Strengthening International Support
The governor underscored the importance of enhancing support from international partners and adopting more effective and flexible programs to assist the Yemeni economy. He expressed gratitude to the German government for its humanitarian and developmental support.
In response, Ambassador Thomas Friedrich Schneider reaffirmed Germany’s commitment to continuing support for programs that promote economic stability and build institutional capacities. He praised the Central Bank’s efforts in managing monetary policy despite ongoing challenges.
For more details, visit the original article here.
This article originally appeared on Yemen TV.
To follow the news in Arabic
