Central Bank to be Independent [Archives:2000/01/Local News]

January 3 2000

Ahmad Abdul-Rahman al-Samawi, Yemen’s Central Bank Governor said that the government had approved a new law granting the bank monetary and administrative independence under the Arab state’s reform programme. Samawi also said that the law restricted the government from seeking central bank loans, except in extraordinary circumstances and for limited amounts and periods.”
“The new law stresses non-interference from any party in the
bank’s operations as to provide adequate monetary liquidity for a stable monetary system based on market fundamentals,” Samawi said.