IMF Loan to Aden Bank Pushes for Collapse of Economy: Sana’a

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The Central Bank of Yemen in Sana’a expressed its objection and refusal to enable the International Monetary Fund to allow the pro-coalition Aden government to withdraw $300 million from Yemen’s special drawing rights, and also its refusal to restrict the amount as a debt owed by the Yemeni people.

The bank in Sana’a confirmed that Aden government, which carries out the withdrawal process, has no legal status, accusing the International Monetary Fund of contradicting its policies and decisions, and it works with duality of its dealings with the same issues according to political agendas.

The statement considered that directing the fund to the Bank of Aden makes it one of the tools of the economic war. “By financing the war on Yemen, pushing the national economy towards collapse, and violating the rules and requirements of combating money laundering and financing terrorism.”

The Central Bank in Sana’a called on the International Monetary Fund to respond to its demands, stressing that it disclaims its responsibility “from any burdens that will result from the Fund’s decisions.”

Sana’a bank had previously addressed IMF, and provided several options, including stopping any disposal of the Special Drawing Units in Yemen until the aggression is stopped, to ensure that the Yemeni people benefit from it, while the size of the noticeable collapse for the Yemeni riyal and the economy in general, especially in the areas controlled by the coalition, is due to printing a new currency and taking such ill-conceived economic actions, according to observers.

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