Liquidity Crisis Hits Occupied Aden
The economic collapse is intensifying in Aden and the occupied southern and eastern governorates under the control of the Saudi-Emirati aggression coalition. Financial sources and economic experts have revealed an unprecedented liquidity crisis that has paralyzed the banking sector, despite the so-called Central Bank’s policy of “currency dumping” through the injection of billions of riyals in counterfeit currency printed abroad without backing.
In a development unprecedented in the history of the Yemeni banking sector, economic experts confirmed that exchange companies and commercial institutions in occupied Aden are completely unable to conduct foreign currency exchange transactions. This paralysis has not been limited to these companies but has extended to the daily lives of citizens, as obtaining local currency (printed) has become virtually impossible. This reflects a complete loss of confidence in the financial system of the traitorous government that has been holed up in Riyadh hotels for the past 10 years.
According to media sources, the so-called Central Bank of Aden injected approximately 100 billion riyals in banknotes printed abroad into the market in recent days, after the Southern Transitional Council seized them in containers at the port of Aden.
Despite this massive injection, the crisis has not only persisted but has worsened, proving that the monetary policy of the occupying forces and their proxies is not aimed at resolving the crisis. Instead, it seeks to cover the financial deficit by perpetuating inflation and plundering savings by forcing citizens to sell their remaining foreign currency holdings through artificially lowered exchange rates, thus absorbing hard currency from the market.
Economic reports attribute the roots of the current crisis to direct Saudi intervention, characterized by heavy and suspicious financial injections. The Saudi committee has been injecting millions of Saudi riyals into the local market through dubious and illegal means to finance its own agenda.
Sources revealed aspects of Saudi meddling that exacerbated the crisis, including buying loyalties and disbursing approximately 90 million Saudi riyals to officials in the treacherous government as salaries and gifts. This also involved funding mercenary militias by distributing massive sums of Saudi riyals to ensure their absolute subservience to Riyadh. Furthermore, the market was flooded with Saudi currency, as this indiscriminate injection of Saudi currency led to a glut of foreign currency and a complete disappearance of local liquidity, resulting in a severe disruption of the supply and demand balance.
What Aden and the occupied territories are witnessing is a systematic destruction of the national economy, orchestrated by the Saudi-Emirati occupation. The continued injection of printed currency outside of any backing will push the economic sector in the occupied territories to the brink of total collapse, rendering the printed currency worthless. This will inevitably lead to rampant inflation and a decline in living standards with unpredictable consequences.
The only solution to escape this dark tunnel lies in restoring national sovereignty over economic decision-making and halting the external meddling that is turning the livelihoods of Yemenis into a tool for political and military bargaining.