Sadia Ibrahim receives medical treatment at an anti-malnutrition treating center in Al-Sabeen hospital in Sanaa, Yemen, on Sept. 12, 2019. Ibrahim facepalmed herself feeling dizzy after the doctor diagnosed her as "skin and bones." (Photo by Mohammed Mohammed/Xinhua)
As Yemen imports nearly everything, higher exchange rates mean millions more people are unable to afford food and other essential goods.
UN Undersecretary-General for Humanitarian Affairs Mark Lowcock on Monday warned that Yemen's struggling economy will exacerbate the country's humanitarian situation.
"This is an issue that requires more attention," Lowcock told the Security Council in a briefing, highlighting the depreciation of the Yemeni currency.
"Recent indicators are alarming. The exchange rate is once more depreciating and is now hovering at just over 600 Yemeni rial to the dollar, compared ... to 215 rial to the dollar before the crisis," he said. "We have not seen the rate cross the 600-rial threshold since last year, when uncontrolled depreciation seized the country and prompted major hikes in food prices."
As Yemen imports nearly everything, higher exchange rates mean millions more people are unable to afford food and other essential goods. Last year, the collapse of the currency was a primary driver in pushing Yemen to the brink of widespread famine, said Lowcock.
He called for injections of foreign exchange to help stabilize the exchange rate. "We need a predictable, regular program for these injections, which I hope Yemen's partners will provide."
