Egypt's PM: International backlash grows over Israel's attacks in Gaza    Egypt's PM reviews safeguard duties on steel imports    Egypt backs Sudan sovereignty, urges end to El-Fasher siege at New York talks    Egyptian pound weakens against dollar in early trading    Egypt's PM heads to UNGA to press for Palestinian statehood    As US warships patrol near Venezuela, it exposes Latin American divisions    More than 70 killed in RSF drone attack on mosque in Sudan's besieged El Fasher    Egypt, EBRD discuss strategies to boost investment, foreign trade    DP World, Elsewedy to develop EGP 1.42bn cold storage facility in 6th of October City    Al-Wazir launches EGP 3bn electric bus production line in Sharqeya for export to Europe    Global pressure mounts on Israel as Gaza death toll surges, war deepens    Cairo governor briefs PM on Khan el-Khalili, Rameses Square development    El Gouna Film Festival's 8th edition to coincide with UN's 80th anniversary    Cairo University, Roche Diagnostics inaugurate automated lab at Qasr El-Ainy    Egypt expands medical, humanitarian support for Gaza patients    Egypt investigates disappearance of ancient bracelet from Egyptian Museum in Tahrir    Egypt launches international architecture academy with UNESCO, European partners    Egypt's Cabinet approves Benha-Wuhan graduate school to boost research, innovation    Egypt hosts G20 meeting for 1st time outside member states    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Cash-strapped Yemen needs money
Published in Bikya Masr on 27 - 01 - 2012

SANA'A: Now that Yemen President Ali Abdullah Saleh has left Yemen for Oman and is expected to continue on his journey to the United States where he is set to undergo medical treatment, one would think that Yemenis are breathing a sigh of relief.
Quite the contrary, with the departure of the three decades-long autocrat, it is Yemen's money that is also taking flight.
Military sources revealed that on the very day President Saleh boarded his plane, another military plane was loading dozens of cases full of foreign currency, ingots of gold and other luxury items.
“Tens of Millions of dollars were loaded aboard that plane, General Mohamed Saleh al-Ahmar [President Saleh's half-brother and commander of Yemen's air force] himself supervised the operations,” said an officer under cover of anonymity.
Other sources close to the presidential family are now claiming that Yehia Mohamed Saleh, one of Saleh's nephews, Head of the country's Central Security Forces and billionaire businessman sold a military cargo plane to Dubai, dealing with Yemen's assets as if they were his own.
Ministries have been emptied; the entire government's car fleets disappeared on the day President Saleh signed in Riyadh the power-transfer proposal, forcing the new government to use their own personal vehicles. Officers have told the local press that expensive military equipment was being sold to tribes for cash, dangerously depleting the armed forces fire power capacity.
Interestingly the new coalition government is doing nothing.
Despite Vice-President Abdu Rabbo Mansour Hadi's many claims and promises that he would put back the country on the right tracks, Yemenis are losing confidence when they see how Saleh's family members are continuing to pillage their homeland in all impunity.
The Planning and International Minister Mohammad Alsaadi announced on Thursday that Yemen needed no less than $15 billion to recover and become stable again.
And as many Yemenis are quick to point out: “I wonder what the combined fortune of Saleh's family members is? $20 Billion, $50 Billion? If the government was doing its job we would not have to beg our neighbors for money?” said an independent youth.
Yemen will in a couple of months hold a “donor conference” trying to gather international help to rebuild the country's infrastructures and economy.
BM
ShortURL: http://goo.gl/EPH8J
Tags: Economy, finance, Money, Saleh
Section: Op-ed, Yemen


Clic here to read the story from its source.