Minister of Information: Houthis continue to destroy Yemen’s economy by circulating counterfeit currency.

Houthi Militia’s New Currency: A Distraction from Economic Collapse

Minister’s Statement on Houthi Actions

Yemen’s Minister of Information, Culture, and Tourism, Moammer Al-Eryani, has criticized the Houthi militia, which he describes as a terrorist group backed by the Iranian regime. He claims that the militia is attempting to divert attention from the disasters it has caused in Yemen. Al-Eryani argues that the announcement of a new “counterfeit” coin serves as a smokescreen to cover up the militia’s failures and corruption.

Economic Mismanagement and Public Revenue Theft

Al-Eryani emphasizes that the core issue lies in the Houthi militia’s systematic theft of public revenues. He points out that they have created a parallel economy outside the state’s framework, effectively undermining the national currency. This mismanagement has led to the destruction of the banking system and a significant decline in the purchasing power of Yemeni citizens, who are already suffering due to the militia’s actions.

Failure to Address Financial Crisis

Instead of addressing the root causes of the financial and economic crisis, the Houthi militia continues to engage in illegal practices. Al-Eryani notes that they refuse to channel public revenues to the Central Bank, halt unlawful taxation, or pay government employees. Instead, they resort to minting new coins as a cover for their unlawful policies. This approach aims to establish a financial system that operates independently of the national banking system, perpetuating a monetary division that serves as a tool for extortion and control over citizens’ lives.

Implications for Citizens and the Economy

The minister asserts that this new currency will not alleviate the living conditions in Houthi-controlled areas. Rather, it will exacerbate the economic and humanitarian crisis. Al-Eryani highlights that this move underscores the militia’s ongoing destructive policies towards Yemen’s economy. He accuses them of using economic strategies as a weapon, disregarding the daily struggles of Yemenis. The militia exploits the basic needs of citizens for political leverage and illicit enrichment.

Conclusion

The situation in Yemen remains dire as the Houthi militia continues its detrimental practices. The introduction of a new currency only serves to deepen the economic crisis, leaving citizens vulnerable and struggling for survival. The international community must pay attention to these developments and support efforts to restore stability and governance in Yemen.

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