NYN | News
The suffering of Yemenis is escalating due to the ongoing division of monetary policies between the Aden and Sana’a governments. They are paying a heavy price with their pockets and daily lives amid unprecedented economic deterioration.
In this context, Yemeni activists on social media platforms revealed a leaked document showing that a citizen paid a money transfer commission three times the amount being sent from areas controlled by the Aden government (supported by the UAE and Saudi Arabia) to areas under the control of the Sana’a government.
The document, issued by one of the exchange companies operating in areas controlled by the internationally recognized government, showed a transfer of 281,000 Yemeni rials, with a transfer fee of 978,000 rials. This means the sender paid more than three times the amount intended for transfer.
The document sparked widespread outrage, with activists describing it as “organized theft,” considering that these excessive fees reflect a complete collapse of the monetary policy of the Aden government and worsen the suffering of citizens who rely on money transfers to meet their basic living needs.
The areas controlled by the Aden government are suffering from worsening monetary division, as its authorities apply separate policies from Sana’a, leading to the existence of two currencies with different exchange rates. This significant discrepancy forces exchange companies to impose astronomical fees, burdening citizens and disrupting the lives of many.
Activists accused the Aden government of collusion with exchange companies, pointing out that some of these companies are managed by government officials or are linked to military leaders. They stressed that the crisis is an extension of corrupt policies that have exhausted the economy and pushed poverty rates to unprecedented levels.
The relocation of Yemen’s central bank from Sana’a to Aden in 2016, under orders from President Abd-Rabbu Mansour Hadi, exacerbated the monetary crisis. The bank became a tool in the political conflict, and the Aden government began printing new banknotes totaling more than five trillion rials without any monetary backing, which dealt a severe blow to the value of the Yemeni rial against foreign currencies.
