Aden — The British Ambassador to Yemen, Abda Sharif, held a high-level meeting this week with Ahmed Ghaleb Al-Maabaqi, Governor of the Central Bank of Yemen, to discuss recent economic developments and the future of financial stability in the country.

During the meeting, Ambassador Sharif expressed her satisfaction with the recent stabilization of the Yemeni Riyal, which has seen a notable recovery in areas under the internationally recognized government. 

The currency has regained over 45% of its value against foreign currencies in recent weeks, signaling a positive shift in market confidence.

However, the ambassador emphasized that currency stability alone is not enough. She stressed the urgent need for comprehensive economic reforms to ensure long-term resilience and sustainable growth. 

“We welcome the current signs of stability,” she said, “but there is a pressing need to move quickly on structural reforms that can protect Yemen’s economy from future shocks.”

The discussions also touched on the importance of maintaining the independence of the Central Bank and enhancing transparency in monetary policy. 

Ambassador Sharif reaffirmed the United Kingdom’s commitment to supporting Yemen’s financial institutions and broader economic recovery efforts.

Governor Al-Maabaqi welcomed the UK’s continued support and outlined the bank’s roadmap for reform, which includes improving banking sector oversight, combating inflation, and strengthening foreign currency reserves.

The meeting comes at a critical time as Yemen navigates a fragile post-conflict recovery, with international donors urging the government to implement reforms that can unlock further aid and investment.