Central Bank of Yemen announces plan to tackle foreign exchange crisis

The Central Bank of Yemen, based in Aden, has announced a strategic plan to address the country's foreign exchange crisis and stabilize local markets. Following a two-day intensive meeting led by Governor Ahmed Ahmed Ghaleb, the board approved several measures to protect the banking sector and manage economic challenges.

Key initiatives include the establishment of a General Department for Strategic Planning to oversee medium- and long-term performance. To combat financial crimes, the bank is restructuring its anti-money laundering and counter-terrorism financing departments to align with international standards. Additionally, the board prioritized cybersecurity to protect financial systems against evolving digital threats.

The bank also emphasized fiscal discipline, directing the implementation of austerity policies for the first half of 2026 to optimize resource use amid limited foreign currency availability.