Deny access to overseas funds: Yemeni PM

Yemen's government has urgently asked international monetary institutions and banks to prevent the current central bank administration from using state funds held in overseas banks, a source at the Yemeni prime minister's office said on Saturday.

''Prime Minister Ahmed bin Daghr has received confirmed information from local and foreign sources that the central bank administration is tapping into Yemeni foreign reserves held at banks in the United States and Europe after exhausting funds in Sanaa and Hadidah for funding the war effort through the people's fund,'' the source told  the state-run Yemeni official news agency.

"Out of concern to preserve the funds and belongings of the Yemeni people, and the remaining public funds, the Yemeni government has decided to take this step, which includes suspending its dealings with the Central Bank Governor Mohammed Awad bin Hamam, who has not been able to use his powers and functions honestly and subjecting the apex bank to the control of the rebel Houthi militias and forces loyal to the defunct president Ali Abdullah Saleh," the sources explained.

Follow Emirates 24|7 on Google News.