The latest donation will contribute towards alleviating the economic burden of Yemenis and follows a previous $3 billion grant the kingdom provided to the Central Bank of Yemen, state news agency WAM reported.
Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…92 Views | the publication reaches you by | Saudi Arabia Today
The new deposit comes less than two weeks after the central bank in the government’s de facto capital of Aden raised interest rates on deposits to an all-time high of 27 percent after the riyal slid more than 36 percent since January.
The slide has seen a sharp rise in food and fuel prices that triggered protests across the government-held south in early September and prompted the government to raise public sector salaries by 30 percent.
In June, two relief planes were dispatched by the King Salman Humanitarian Aid and Relief Centre carrying food and shelter materials to Aden, Yemen.
This was the first Saudi airlift to the Yemeni people.
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