The President to Decide: A COALITION GOVERNMENT? [Archives:2000/03/Front Page]

January 17 2000

Several newspapers have recently been publishing reports of possible cabinet reshuffle. However, the latest such report released by Al-Ayyam was denied by official sources saying that there are yet no intentions for any change in the government’s cabinet. However, after the presidential elections, the president has given the government a 3- month period to solve its problems and show him its strategies for the coming year in terms of fighting corruption, establishing law and order, increasing efficiency, and other issues. Without doubt, these strategies and plans have not been revealed to the public giving the impression that the government was not able to do what it was supposed to within the deadline. Hence, when the president speaks about change, what comes to mind is the change in the government. The intentions of the president to make some changes were evident in many of his speeches, but no one yet knows the changes that will take place.
The people in Yemen are waiting for changes, and have expressed their hope in change that would bring them better conditions. However, regarding the expected change, there are two main speculations, which are based on different sources, and which are:
1-The President will keep the same government. Hence Prime Minister, Dr. Abdulkareem Al-Iryani would stay in his post as Prime Minister. However, very few and minor changes would take place in some ministries. This means that there would barely be some change in the government.
2-The drastic point of view, which is also preferred by the public, is the change of the whole government from top to bottom and bringing into it more efficient and qualified ministers. The new government would be a coalition government which will have representatives from most of – if not all – the political parties in the country. The new prime minister may be an individual from Hadramout with great political influence and a person trustworthy by the president and the public.
The two possibilities do not remove the possibility of no change whatsoever (as claimed by some official source.) However, at a time when economic conditions continue to deteriorate, and the public continue to suffer, some kind of change to the better would probably be in favor of the country and would get some satisfaction from the people of Yemen. Only time will tell what the decision of the president will be. After all, it is a critical decision that can change a lot, not only in Yemen’s internal conditions, but also in global terms.
  First Step in Establishing a Main Bourse in Yemen
The Minister of Finance Mr. Alawi Saleh Al-Sallami announced the plan to setup its first ever stock market for its banking sector in 2000 as a first step towards establishing a main bourse in the country. “The government is currently considering setting up a share market between banks this year’s as part of steps to set up a main stock exchange in the country” the minister said.
On the other hand, Yemen’s Central Bank governor, Ahmed Al-Samawi, said that Yemen had begun preparations to set up a stock exchange as part of an economic reform program in coordination with the International Monetary Fund in 1997.
Yemen is among the few countries that yet lack any stock exchange services and studies were being held in cooperation with relevant Arab and international institutions to establish the main bourse. “These studies are taking place gradually to set up a secure and stable market which is not subject to risks and upsets,” the minister added.
Yemen has been undergoing an economic reform program under the direct supervision of the IMF and the World Bank. The step of establishing a main bourse in the views of economists will further strengthen the confidence of investors to invest in the country and bring about important changes in the national economy required to adopt to global market policies.