Saudi Arabia Has Given Yemen 2 Billion To Strengthen Its Currency

Saudi King Salman bin Abdul-Aziz Al Saud
AP






Saudi Arabia's King Salman ordered a deposit of $2 billion to be paid into Yemen's chu dau tu iris garden my dinh central bank.


The money, which is not a loan and will not have to be paid back, is to help strengthen chu dau tu du an iris garden Yemen's weak currency. 


The Yemeni prime minister issued a public plea for funds to prop up the rial and help stave off hunger in the war-torn country.



RIYADH (Reuters) - Saudi Arabia's King Salman ordered a deposit of $2 billion to be paid into Yemen's central bank on Wednesday to shore up the weak Yemeni currency, the Saudi government said.


The move was made a day after the Yemeni prime minister issued a public plea for funds to prop up the rial and help stave off hunger in the war-torn country.

"It's not a loan, it's a deposit and the legitimate Yemeni government will not have to pay it back," a source close to the Saudi government said.

Yemen has been divided by nearly three years of civil war between the internationally recognized government, backed by Riyadh, based in the south, and the Iran-aligned Houthi movement which controls the north including the capital Sanaa.

Its currency, the rial, has lost more than half its value against the U.S. dollar chu dau tu chung cu iris garden and soaring prices have put some basic commodities out of reach for many Yemenis.