Friday
Apr062012
Yemen Feature: The Unresolved Economic Crisis (Salisbury)
Yemen's economy, fragile and sclerotic at best, effectively ground to a halt in 2011. A series of explosions damaged a major oil pipeline which is the source of most of the country's fuel. The ensuing shortage of diesel fuel, used to transport goods across the country and to pump most of the country's water, led to a sharp increase in the price of food and water. The government was forced to import fuel and hemorrhaged foreign currency reserves normally used to settle the hefty import bill that covers most of the wheat and rice eaten in the country.