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FINANCIAL NEWS
Unrest cost USD5b: Yemeni minister
29 May 2011
(MENAFN) Yemeni trade minister, Hisham Sharaf Abdalla, said that the political unrest that hit the country has so far cost it a total of USD5 billion, reported Saudi Gazette.
Abdalla said that immediate aids were required if the country plans on preventing an economic meltdown.
The minister also objected to Gulf states and Western aid initiatives that link approving aids with political pre-conditions like the resignation of President Ali Abdullah Saleh.
It is worth noting that the unrest which started in Yemen three months ago drove foreign investments out of the country as a result of the declining investor confidence, which strongly hit the economy.
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