ReliefWeb

AMMAN, 24 May 2022 – The UN Special Envoy for Yemen, Hans Grundberg, concluded today a two-day meeting with Yemeni economic experts from diverse backgrounds to consult on priorities for the multitrack peace process. Participants underlined the momentum provided by the truce on economic issues and identified opportunities for incentivizing further progress.

Discussions centered on identifying key issues to be addressed in a future dialogue between the parties and in the economic track of a UN-led multitrack process. Issues discussed included the coordination of financial and monetary policies, currency exchange rate stabilization across Yemen, public revenues, the financing of public service salaries**,** the rising costs of goods due to freedom of movement restrictions and double taxation, reconstruction, as well as other strategic questions of priority. Furthermore, discussions emphasized the need for coordination in vital sectors that could have a direct impact on civilians and their livelihoods.

Participants also highlighted challenges faced by the private sector and ways to address those challenges to help revive the Yemeni economy in a manner that serves the public good and the future of Yemen. They also underlined the urgent need to support the Yemeni commercial banking sector and its ability to engage internationally and support trade.

“Addressing the deteriorating Yemeni economy will be central to both alleviating the chronic suffering of Yemeni civilians and reaching a sustainable solution to some of the key drivers of this conflict,” said Mr. Grundberg. “It is important to identify those areas where our efforts could prove useful and efficient in helping parties find common ground in addressing the issues that affect all Yemenis across the country.”

Various international stakeholders, including UN humanitarian agencies and international financial institutions participated in the meeting, offering their perspectives and expertise to enrich pointed discussions.