Arab Monetary Fund approves $1bn support for Yemen

The Arab Monetary Fund has signed a $1 billion agreement to support Yemen's economic reform programme under the internationally recognised government, Yemeni and Saudi state media reported on Sunday.

The new package by the Abu Dhabi-based fund, which includes countries from the Middle East and North Africa, will provide support for the Yemeni government's efforts to stabilise the economy from 2022 to 2025, Saudi state TV channel Al Ekhbariya reported.

A civil war, triggered when Iran-backed Houthi rebels stormed the capital, Sanaa, in late 2014, has brought Yemen's economy to its knees and caused the world's largest humanitarian crisis.

Inflation and foreign currency shortages have made food, water and fuel unaffordable for many in the country, which imports most of its needs.

Millions of Yemenis have been displaced by the fighting and much of the population is reliant on international aid to survive.

While the Yemeni riyal has been kept relatively steady at around 560 to the dollar in Houthi-controlled areas, it has reached all-time lows in provinces controlled by the government. In the southern port city Aden, which serves as the temporary base of the government, $1 was being exchanged for more than 1,000 rials on Sunday.

After 2014, Yemen’s central bank split into two branches — one in Sanaa, under Houthi control, and one internationally recognised branch in Aden, which has access to money printers and is under the control of the government.

Following a series of Houthi attacks on oil terminals and facilities this month, Yemeni Foreign Minister Ahmed Awad bin Mubarak accused the rebels of targeting the government's economic resources.

“This is a really serious escalation by the Houthis. The consequences of such attacks will impact the Yemeni people negatively,” Mr bin Mubarak told The National.

The attacks followed the expiry of a six-month ceasefire in early October after the Houthis rejected the UN's attempts to extend the truce and broaden its scope.

Saudi Arabia said in April it would arrange $3 billion of support to the war-torn country's economy after a new presidential council was formed. It was not clear if the whole sum has been disbursed.

With reporting from Reuters

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Evacuations to France hit by controversy

Over 500 Gazans have been evacuated to France since November 2023
Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
Artists and researchers fall under a programme called Pause that began in 2017
It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
Unlike students, they are allowed to bring their families to France

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Second ODI

England 322-7 (50 ovs)
India 236 (50 ovs)

England win by 86 runs

Next match: Tuesday, July 17, Headingley

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Other key dates

Finals draw: December 2
Finals (including semi-finals and third-placed game): June 5–9, 2019
Euro 2020 play-off draw: November 22, 2019
Euro 2020 play-offs: March 26–31, 2020

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TCL INFO

Teams:
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17

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