Yemen’s President Appoints New Central Bank Governor

ADEN, Yemen, Yemen's internationally-recognised President, Abd-Rabbu Mansour Hadi, issued Wednesday, a new decree appointing Hafez Mead as governor of the country's central bank, based in the southern port city of Aden.

According to a statement, Mead, who heads the Supreme Economic Committee, was appointed as new governor for the Central Bank of Yemen.

No details were mentioned about why Zammam was replaced by Mead, who thus becomes the third governor of the central bank, since its relocation in Aden from the capital Sanaa, which is under the Houthi rebels' control for years.

In 2017, the Yemeni government floated the national currency, the Yemeni rial, a move economic observers and analysts said was not well-studied, a year after the relocation of the central bank to Aden.

Source: NAM News Network