Since 14 December, the rial started to depreciate again, reaching the YER The stability observed in November was partially the result of the announcement of 1,200 per USD 1 mark on 24 December and slowly depreciating through the remainder upcoming support to the Central Bank of Yemen (CBY) in Aden, namely, a conversion of the month. [...] Among CBY-Sana’a’s proposals were: assigning an independent third party to oversee the use of the SDRs in financing imports and paying public salaries; using the SDRs to pay off 2021 2022 part of public debt to and alleviate the liquidity crisis in private banks; and suspending DFA IRG the conversion of the SDRs until the end of the conflict. [...] The IRG added that the prices of electricity and water will also gradually increase, al- though the specific amounts, as well as the timeline of the price increases (including for Despite the anticipated financial support, in the second half of December, the rial par- petrol and gas cylinders), remain unclear. [...] and requirements that might delay the arrival of the funds from the Saudi pledge, likely ELECTRICITY DEVELOPMENTS contributing to the depreciation of the rial. [...] The statement described the latest food price cuts as 700,000 the DFA attempting to unjustly put the burdens of the economic challenges the country was experiencing onto the traders.
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