Bloomberg News

GCC May Deposit $5 Billion in Yemen to Back Riyal, Asharq Says

February 28, 2012

The six-nation Gulf Cooperation Council may deposit $5 billion in Yemen’s central bank to back the national currency, according to Asharq Al-Awsat.

Yemen’s new president, Abdurabuh Mansur Hadi, discussed details of the procedure during a meeting with GCC Secretary- General Abdel Latif al Zayyani, the newspaper reported without saying where it got the information.

To contact the reporter on this story: Nayla Razzouk in Dubai at nrazzouk2@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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