Finance Minister highlights risks of high inflation, food insecurity in Yemen

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Finance Minister highlights risks of high inflation, food insecurity in Yemen

[16/10/2022 07:19]

WASHINGTON - SABA
Minister of Finance Salim bin Breik along with Governor of Central Bank of Yemen Ahmed al-Ma'baqi contributed today, Sunday, to a high-profile meeting including Chair and Managing Director of the International Monetary Fund (IMF) Kristalina Gerorgieva, Finance Ministers and Governors of Central Banks in Middle East and North Africa.

The session held on the sideline of the annual meetings of the World Bank (WB) and IMF.

Bin Breik cited the risks of high inflation rates and food insecurity in Yemen saying" Yemen has been facing one of the biggest humanitarian crises in the world, as more than half of Yemen's population have become unable to get sufficient food, rates of poverty, hunger and malnutrition alarmingly increased due to successive crises, implications of war, coronavirus pandemic and direct and indirect consequences of Russian-Ukrainian upon food security in Yemen".

The Minister called on the world to pay more attention to the deteriorating humanitarian situation in Yemen amid increasingly growing risks of food security.

He stated that Russian-Ukrainian war has severe impacts upon the most vulnerable segments of the Yemeni peoples, as Yemen has to import more than 45% of its basic food, mainly wheat from Russia and Ukraine.