The Central Bank denies rumors of plans to issue new currency.

Central Bank of Yemen Denies Rumors of New Currency Issuance

A responsible source from the Central Bank of Yemen has firmly denied recent media reports suggesting that monetary authorities plan to introduce new currency to finance the budget deficit.

Clarification on Monetary Policy

In a press statement, the source emphasized, “This method is completely ruled out and has not been among the options approved or utilized by the Central Bank of Yemen since December 2021. We cannot resort to it under any circumstances or pressure, as it would violate the strict policies established by the Board of Directors.”

Alternative Solutions Available

The source further explained that the government has numerous internal and external options to navigate the current challenges. Importantly, the option of inflationary financing is not on the table. The Central Bank, supported by the Leadership Council and the government, rejects this approach for various reasons that prioritize the welfare of the nation and its citizens.

Call for Responsible Reporting

The source urged journalists, particularly those covering economic issues, to consider the potential consequences of inaccurately reporting sensitive matters that affect citizens’ lives and their security and stability. They encouraged media professionals to reach out to the bank for clarification before publishing, especially regarding topics that could create confusion and negatively impact citizens and institutional operations.

Conclusion

The Central Bank of Yemen remains committed to maintaining economic stability and upholding its policies. As the situation evolves, accurate reporting will play a crucial role in ensuring public understanding and confidence in the nation’s financial system.

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