Page 18 - MEOG Week 26

MEOG n e W s in B rie F MEOG

P oli C y May 2019, includes the unification of all the united Nations calls the world’s worst
military formations under the authority of humanitarian disaster.
Yemen president urges the ministries of interior and defence, as well al-JaZeera
as the formation of an efficient government
separatists to ‘stop the made up equally between the north and south Bahrain’s M3 expands by
of Yemen.
bloodshed’ the interim seat of the Yemeni government, 1.3% m/m in May
Located off the southern coast of Aden,
The internationally recognised president urges Socotra is near strategic shipping lanes and is Bahrain’s M3, the broadest measure of money
southern separatists to honour Riyadh pact to famed for its biodiversity. supply, expanded for the third consecutive
end conflict in the south. Tensions have escalated over the last month, growing by 1.3% month on month
Yemen’s president has called on southern several months since the separatists declared to BHD14.24bn ($37.7bn) in May compared
separatists to “stop the bloodshed” and abide self-rule in Aden and other southern with a modest 0.6% m/m gain the previous
by a power-sharing agreement in his first provinces. month, according to figures released by the
public comments since the secessionists This prompted Yemen’s government in central bank in a monthly statistical bulletin.
declared autonomy in April. May to launch a military offensive in Abyan M3 grew on the back of currency in
The conflict between the Southern aimed at ousting the separatists from Aden. circulation, increasing by 4% m/m to
Transitional Council (STC) and the The southern separatists and the Yemeni BHD635mn and through demand deposits
internationally recognised government government are technically allies in the fight rising by 6.7% m/m to BHD3.33bn, pushing
of President Abd-Rabbu Mansour Hadi against the Houthis, but the rift between them M1 up by 6.2% m/m to BHD3.96bn.
constitutes a second front in Yemen, already represents a damaging “war within a war” in Time and savings deposits marginally grew
split by a war between government loyalists the Arabian Peninsula’s poorest country. by 0.2% m/m to BHD8.86bn, uplifting M2 by
and Houthi rebels. Earlier this week, a Saudi-led military 2% m/m to BHD12.83bn. In contrast, general
The STC, which declared self-rule on April coalition backing the government against the government deposits contracted by 4.5% m/m
26, has made a series of military gains, the Houthis said it had deployed observers to to BHD1.41bn, narrowing M3’s growth to
latest this month when it seized the strategic monitor a ceasefire between pro-government 1.3% m/m.
Indian Ocean island of Socotra. troops and southern separatists announced On an annual basis, M3 expanded by 1%
“I call on the so-called Southern two days earlier. year on year in May compared to the same
Transitional Council ... to return to the Saudi forces arrived on Wednesday in month the previous year due to a 9.6% y/y
path of the Riyadh Agreement and stop the Shaqra and Sheikh Salem, two flashpoints in growth in currency in circulation and a 15%
bloodshed,” Hadi said during a meeting on southern Yemen’s Abyan province, to monitor y/y jump in demand deposits, as well as a 10%
Saturday with high-level government officials, that truce, military sources said. y/y rise in time and savings deposits, which
referring to a power-sharing deal for the south A collapse of the ceasefire in the south were partly offset by a 26% y/y plunge in
struck last November that quickly became would again complicate efforts by the general government deposits.
defunct. government to repel the Houthis, who are Bne
The Riyadh accord’s implementation “has believed to be aligned with Saudi’s regional
long faltered due to continuous escalatory foe Iran. UAE announces fuel prices
activities, including the announcement of self- The separatists and the government are due
rule and the rebellion witnessed in Socotra”, to hold further talks in Saudi Arabia to discuss for July 2020
Hadi said, who has been living in the Saudi the truce, coalition spokesman Turki al-Maliki
capital following the takeover of Sanaa and said this week. The uAE has announced petrol prices for July
large parts of Yemen by the Houthis in 2014. Since the Saudi-led coalition launched a 2020, keeping them at the same rate for four
“Resorting to arms and force for personal military offensive in 2015, tens of thousands consecutive months.
gains ... will not be accepted,” he added. of people, mostly civilians, have been killed The prices have been fixed at Dhs1.91 per
The agreement, which was signed in and millions displaced in Yemen, in what litre for Super 98 petrol, while one litre of

P18 www. NEWSBASE .com Week 26 01•July•2020