The Finance Minister discusses economic and financial updates and challenges with the French ambassador.

In a meeting held today in the temporary capital of Aden, Minister of Finance Salem bin Breik engaged with French Ambassador to Yemen, Catherine Colonna, to discuss the latest developments in Yemen’s economic and financial landscape. The discussions focused on the government’s efforts to address significant challenges facing public finances amid the current difficult circumstances in the country.

U.S. Designation of Houthi Militias as Terrorist Organization

The meeting, which also included Assistant Undersecretary of the Ministry of Finance for Foreign Relations, Abdulqader Amin, highlighted the importance of the recent U.S. decision to classify the Iran-backed Houthi militia as a “Foreign Terrorist Organization.” This designation underscores the government’s strategic plan aimed at achieving economic reform, recovery, and comprehensive development. The officials emphasized the necessity of continued regional and international support for the government’s efforts to implement a comprehensive reform program across economic, financial, monetary, and administrative sectors. They also noted the critical need to enhance economic resource development and combat corruption, especially as international funding for vital sectors has significantly declined.

Resuming Oil Exports to Boost Public Resources

The discussions further emphasized the importance of resuming crude oil exports to strengthen the state’s public resources and ensure the sustainability of public finances. This initiative could positively impact the overall situation, improve essential services, and enhance the living conditions of citizens. It would also help mitigate humanitarian suffering and reduce food insecurity, which has worsened due to the actions of the Houthi militia.

Government Efforts Against Economic Challenges

Minister bin Breik reviewed the current state of the economy and financial sectors, outlining the government’s efforts in line with the directives of the Presidential Leadership Council. He addressed the significant challenges posed by the Houthi militia’s ongoing economic warfare and their blockade on crude oil exports, which account for approximately 65% of the state budget.

Continued Support from Allies

The Minister expressed gratitude for the support from allies, including Saudi Arabia, the United Arab Emirates, and France. He stressed the importance of ongoing assistance to enable the government to fulfill its national responsibilities and continue efforts aimed at improving overall conditions and stabilizing the national economy.

French Ambassador’s Commitment to Support Yemen

In response, Ambassador Colonna expressed her appreciation for the government’s efforts to enhance public conditions and deliver services to citizens. She reaffirmed her government’s commitment to continue supporting Yemen and its institutions to help mitigate the adverse effects of the economic crisis.

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