NO. 27


Financial and Banking News

Economic Policy

Yemen's Tentative Steps Towards Reform Spark Protests

Yemen has devalued its currency to one quarter of its previous valueagainst the dollar as part of a series of measures aimed at restoring some formof equilibrium to its economy. The devaluation was accompanied by a rise in fuelprices and transport fares and immediately sparked violent protests in Aden. Thegovernment has also announced its first budget for three years.